Survey: 65% of middle-class Americans are ‘struggling financially’

INDIANAPOLIS (WISH) — Most middle-class Americans are struggling financially, according to a new poll from the National True Cost of Living Coalition.

In the the poll of 2,500 adults, 65% of people who earn more than 200% of the federal poverty level, which is at least $60,000 for a family of four, said they are struggling financially.

“The economy is booming, and yet many Americans are still gasping for air financially. They simply don’t have the breathing room to plan beyond their present needs,” said Jennifer Jones Austin, co-chair of the National True Cost of Living Coalition, in a news release.

The poll also found the following:

• 40% of all Americans are unable to plan beyond their next paycheck, and 46 percent don’t have $500 saved for a rainy day.
• 80% of Americans have at one time lived paycheck to paycheck.
• 42% of those who want childcare are stressed about affording it, with 56% unable to afford the amount and the type they want.
• 52% of Americans say paying for an unexpected expense causes them significant stress, with 49% unable to save for unexpected expenses at all.

“With a ready-made measure of true economic security, we can begin to reconcile the gap between how we traditionally measure the economy and how every day Americans experience the economy in their day-to-day lives,” said David R. Jones, President and CEO of CSS and Co-Chair of the National True Cost of Living Coalition. “We’ll make seen the invisible struggles of America’s middle class, while sparking the upward mobility that comes with not just barely paying the bills, but being able to look ahead and plan for the future.”