Living paycheck-to-paycheck in the greatest country in the world

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58% of Americans are struggling with finances

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Woman holding the American flag.Photo byMark Agard

(United States) Every single state is living the same reality. 70% of Americans are extremely stressed out about the rapid inflation, high taxes, economic uncertainty and not having an emergency fund.

“Whether or not you have significant wealth, everyone is feeling squeezed,” said Misi Simms, portfolio manager at TIAA, a Fortune 100 financial services company.

The main problems in America are the lack of savings and credit card debt. On top of that citizens are scared of getting fired which could increase the chances of ending up homeless. " Between higher costs and a possible recession looming, families are increasingly feeling under pressure." CNBC

"Almost 40% of American adults report they struggle to make ends meet each month, an increase from 34.4% in 2022 and 26.7% in 2021.

At 46.2%, Louisiana had the highest percentage reporting financial struggles followed by Mississippi (45.7%) and Arkansas (45.6%)."

"Additionally, 11.3% of adults in households in the U.S. experienced some or very frequent times when they did not have enough to eat from April 26 through May 17, 2023.

That percentage fell below the national average in 24 states, with Louisiana weighing in with more people (15.6%) going hungry than anywhere else. Meanwhile, people in Montana (5.9%) reported the lowest level of struggling with hunger during the same period." The State Science & Technology Institute (SSTI)

"25.1 million Americans are using credit cards to pay some portion of their monthly expenses." SSTI It is alarming the number of Americans relying on credit cards to live every month. The cultural acceptance of this practice normalizes getting into debt and using credit cards on a daily basis.

The government champions the allure of credit cards, normalizing their use as a panacea for convenience. Citizens unknowingly succumb to their mesmerizing power, swiping away their financial freedom. While attention is diverted toward immigration and trans-related issues, the looming burden of debt quietly suffocates dreams of comfortable living.

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