NEWS

    A Quarter Of American Adults Can’t Pay All Their Monthly Bills; 44% Have Less Than $400 In Cash

    Updated: May 23, 2017 at 7:54 am EST  See Comments

    ZeroHedge — There was some good news and some not so good news in the Fed’s latest annual Report on the Economic Well-Being of U.S. Households.

    First the good news.

    The report, based on the Board’s fourth annual Survey of Household Economics and Decisionmaking conducted in October 2016, presents a “picture of improving financial well-being among Americans”, at least according to the report (read on to see if this is merited). Overall, 70% of the more than 6,600 respondents said they were either “living comfortably” or “doing okay,” up 1% from 2015 and up 8% from the first survey results in 2013.

    Not surprisingly, the highest percentage, or 92%, of those who responded they were “living comfortably” was among the group with more than $100,000 in family income. For Americans making less than $40,000 the breakdown was almost evenly split with 49% saying they are “just getting by.” According to the same study, 28% of respondents said that their income in the last 12 months was less than $25,000, and 40% report that their income was less than the key $40,000 cutoff, which suggests that roughly 4 in 10 Americans are “finding it difficult to get by.”


    The remainder of this article is available in its entirety at ZeroHedge

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    Ole Ingvar Recent comment authors
    Ole Ingvar
    Ole Ingvar

    Oh, so familiar situation. In Ukraine in this state living 90% of families.

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