Jun 08, 2022
Question of the Day

Question of the Day; What percent of Americans earning more than $250,000 are living paycheck to paycheck?

It's gotta be a low number, right? 

Thank you to Jenny Trieu for the last question of the day for the 2021-22 school year! We will be back in mid-August and hope you have a great summer! 

Answer: 36%

Questions: 

  • Why do you think that someone earning such a high salary is still struggling to save any money? 
  • You are brought in to provide financial advice to someone earning $250,000 who is living paycheck to paycheck.
    • You want to help them and can ask them only two questions. What would you ask?
  • Your friend says the key to financial security is having a high salary. Do you agree or disagree? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Pymts.com): 

Consumers in the highest income brackets are not immune to these trends. In April 2022, 36% of consumers earning $250,000 or more annually lived paycheck to paycheck, as did those earning between $200,000 and $250,000 per year.

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One of teacher faves in the budgeting category: Budgeting with Roommates. 

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 Get your summer off to a great start and attend the NGPF Virtual Conference on Saturday, June 25th

 

 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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