Why does it feel like so many high-income earners are still living paycheck to paycheck?

Well, spoiler alerts, it's more than just lifestyle creep.

So today we're going to talk about the common reasons why people still feel like they are stretched

thin financially, even when their salary goes up.

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the friends. All right, you guys, number one, the first reason. It's pretty obvious, but it's the

increased cost of living. So this is a legitimate issue that does affect people on all income levels.

According to the Bureau of Labor Statistics, the average monthly expenses for an American household

are about $6,440.

That's a total of $77,280 per year, and the average annual salary in the U.S. is only around $61,900.

If those exact numbers apply to you, then you are coming up more than $15,000 short.

So obviously, this depends on several factors of why this is happening, where you live. This is a big one.

Depending on your city is going to be a huge deterrent because it's either like maybe it's a metropolitan

area. Maybe it's a big city

a very expensive city or maybe you're more i don't know in the midwest or the south and you're like

it just doesn't feel that expensive and how many kids you have this is a major factor as well because

obviously the more kids you have the more expensive life is also how many incomes you have is also

a factor now dual income households is pretty common today, but we do find that, yeah, people

are trying to live on one income.

Some people are doing it well.

Some people, not so much.

Also, whether you're juggling minimum payments.

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