More Americans living paycheck-to-paycheck than 5 years ago, Bank of America data shows [Video]

The share of U.S. households living paycheck to paycheck has grown across all income brackets over the past five years, according to a new study from the Bank of America Institute.

A new analysis released by the think tank on Tuesday found that more than a quarter of Americans, 26%, have necessary expenses that chew up more than 95% of their takehome pay, and nearly a third, 30%, of households spend upwards of 90% of their income on critical bills like groceries, housing, utilities, gas, insurance and child care.

The data showed a 10% increase in those living paycheck to paycheck in 2024 compared to 2019. 

Regardless of the study’s definition, nearly half of Americans currently feel they are living paycheck to paycheck, the BofA Institute found. That number has been rising for at least the past two years.

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