Workers are having a harder time making ends meet as life gets more expensive.
Wage growth isn't keeping up with the cost of living, which is growing at the fastest pace in four decades.
Wages are up 5.1% over the past year, which is behind the pace of inflation, according to Bankrate.com senior economic analyst Mark Hamrick.
When wages rise at a slower pace than inflation, paychecks won't go as far at the grocery store and gas station.
The percentage of Americans living paycheck to paycheck has increased since December and is close to the high of 65% in 2020, according to a report.
"We are all seeing the cost of everything shooting up." said Anuj Nayar, LendingClub's financial health officer. He said that paying more for gas and groceries is hitting households hard.
These are not discretionary expenses because you have to eat and you have to commute.
A survey of more than 2,600 adults found that 42% of people earning six figures are living paycheck to paycheck, up from 42% in December.
If you live here, $100,000 may not be enough.
A family of four with a household of under $120,000 is considered low income in San Francisco. The breakdown of how much you need to earn to live in the country's most popular cities.
According to a report from financial services website Personal Capital, Americans need to make over $122,000 a year to feel financially secure.
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