The average American mentally spends half of their paycheck before the money hits their account, a survey of 2,000 employed adults found. The Talker Research survey commissioned by EarnIn discovered that 38% allocate their pay toward overdue bills. Only 40% of those polled say they have no overdue bills. To make ends meet, 39% will turn to a side hustle, while 31% ask for help from relatives. “Only 5% of respondents can turn to their bank to transfer their paycheck early, while even fewer (4%) can turn to their employer for early pay,” an EarnIn spokesperson said. “People deserve financial solutions that provide faster access to their pay—regardless of where they bank.” (Talker Research)
Phone Topic: What is the first thing you pay for when you receive your paycheck?