Despite the economic gains, two-thirds of middle-income families report falling behind the cost of living, according to a recent survey from Primerica.
Over the past year, paychecks outpaced inflation, thereby easing Americans' adjustment to a higher cost of living . for the first time since the start of the pandemic. Despite the economic gains, two-thirds of middle-income families report falling behind the cost of living , according to a recent survey from Primerica defines middle income as $30,000-$100,000 per year. The survey shows that 48% of middle-income households are cutting costs or pausing savings.
Thirty-one percent say they don’t contribute to a savings account, follow a budget, contribute to an investment account, or set a monthly budget. In 2012, $35,364 was how much someone needed to make to be considered middle class. It went up to $50,099 in 2022. The maximum amount to be middle class has risen too. In 2012, it was $106,092, and in 2022, $150, 298.
Cost Of Living Savings Budget Primerica Inflation Income Prices
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