62% of Millennial's Say They're Living Paycheck to Paycheck

Is this you? According to a new survey from Charles Schwab almost two-thirds of millennial's say they're living paycheck to paycheck! Which in itself is staggering. From those who were surveyed only 38% feel financially stable. The survey also stated, millennial's, more than any other generation feel the most insecure about their finances. This is all according to roughly around 380 (ages 23-38) surveyed by Charles Schwab.

According to Farnoosh Torabi, personal finance author, “It may seem odd that when we look at statistics that say so many millennial's are living paycheck to paycheck, but on the other hand, they’re overspending..." Millennial's may overspend but there's also the reality of student loans which a lot of people from that generation have and are still continuing to pay off. According to CNBC, "They generally carry more debt than previous generations did at their age, for example. One major reason for that is student loans...which averages around $36K."

What do you think of the current statistics?


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