For years, earning $100,000 per year was seen as the key to getting out of the grind of living paycheck to paycheck. With that kind of income, most of us thought we’d be able to add to our savings accounts and stop worrying about every item we put in our basket at the grocery store.
However, a survey by PYMNTS revealed that 62% of Americans currently live paycheck to paycheck — and nearly half of those earning more than $100,000 per year still say they live paycheck to paycheck. What is keeping so many people stuck in a financial rut and worried about every dollar in their checking account?
Based on the PYMNTS survey, here’s why so many people are still living paycheck to paycheck.
This post originally appeared at The Motley Fool.