A new study reveals that most Americans are just one missed paycheck away from financial crisis, despite an average national salary of $63,795.
According to the research, 57% of U.S. workers live paycheck to paycheck, while 24% of adults have no emergency savings. Only 46% of households have enough saved to cover three months of expenses, leaving more than half financially exposed in the event of job loss, illness, or injury.
The report, conducted by Bader Law, also found that rising living costs are draining what little savings Americans do have. In the past year, 37% of adults withdrew money from their savings, and 80% of those withdrawals were used for essentials like food, utilities, and gas.
“Living paycheck to paycheck has become the default in this country,” a Bader Law spokesperson said. “With so many families forced to spend their savings on routine expenses, they’re left with nothing when a true emergency hits. It only takes one injury, one illness, or one missed paycheck to push millions into financial crisis.”
The cost-of-living squeeze is especially sharp in states like Georgia, where expenses outpace wages:
- Rent averages $1,545 per month, nearly $400 higher than the national average.
- Healthcare costs average $413 monthly.
- Combined with groceries and utilities, monthly costs exceed $3,400.
For a Georgian earning minimum wage, working full-time still leaves a 14% shortfall in covering basic expenses.
On average, households now have less than six weeks of financial buffer if income stops.
The full study is available at Bader Law’s website.
