Almost half of Americans spend their salary within two days
Quelle: VIDEOELEPHANT (Glomex)
Almost half of the average American salary is spent within two days after payday, according to a survey by Talker Research of 2,000 working adults. The study shows that 48% of income is spent within 48 hours, with over a third already spent in the first 12 hours, leaving just over half for the rest of the pay period. Most employees immediately spend their money on essential things like food, bills, rent, and credit card payments. Only 28% save immediately, often because there is hardly anything left to set aside. Among Millennials, the decline within 48 hours is the strongest: they spend 40% of their salary within 12 hours, while 52% of Generation Z and 45% of Millennials admit to overspending after payday. Many cite early bills and late payments as the main reasons for the pressure. Financial pressure hits younger workers the hardest: 54% of Generation Z and 43% of Millennials often feel tight on cash, compared to 18% of Baby Boomers. Generation Z paid an average of $275 in overdraft and late fees last year, ten times more than the Boomers. Almost half of the respondents who had the option to access their salary early took advantage of this option, especially among Generation Z and Millennials.