{"id":8904,"date":"2023-03-29T07:43:16","date_gmt":"2023-03-29T12:43:16","guid":{"rendered":"https:\/\/ustower.net\/?p=8904"},"modified":"2023-03-29T07:43:25","modified_gmt":"2023-03-29T12:43:25","slug":"with-62-of-americans-living-paycheck-to-paycheck-amid-inflation-more-people-have-a-side-job","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=8904","title":{"rendered":"With 62% of Americans living paycheck to paycheck amid inflation, more people have a side job"},"content":{"rendered":"\n

It\u2019s getting harder to keep up with higher prices.
As of February, 62% of all U.S. adults were living paycheck to paycheck, up from 60% a month earlier, according to a new LendingClub report.
To make ends meet, more people have picked up a side hustle, the report also found.
As pandemic-related benefits are scaled back, \u201cmany have turned to supplemental income with a side job or alternative income sources to improve their financial standing,\u201d said Anuj Nayar, LendingClub\u2019s financial health officer.
Nearly half, or 44%, of Americans have a side hustle amid inflation, which is a 13% jump compared with 2020, according to a separate survey by LendingTree. Another report, from FlexJobs, found that 69% of employed professionals either have a side job or want one.
\u201cWhat is clear: No matter your income bracket, having supplemental income greatly impacts financial stability and can often mean the difference between living without difficulty and living paycheck to paycheck and struggling to pay monthly bills,\u201d Nayar said.
How to improve your financial picture
Instead of \u2014 or in addition to \u2014 earning more to help cover monthly expenses amid inflation, try these spending and savings tips from consumer finance expert Andrea Woroch.<\/p>\n\n\n\n

    \n
  1. Refresh your budget. \u201cInflation has likely thrown your spending and savings plan out of whack,\u201d she said. Start by going over your expenses and negotiate with current providers, or cut costs where you can, such as increasing your auto or homeowners insurance deductible to lower your monthly premium.<\/li>\n\n\n\n
  2. Purge useless services. Review each recurring expense and eliminate unnecessary services such as unused subscriptions or memberships and premium movie channels you never watch, Woroch said.<\/li>\n\n\n\n
  3. Clear up debt. To keep up with higher prices, more Americans are leaning on credit cards and carrying debt from month to month, many reports show. If you\u2019re struggling to pay off a balance, switch to a 0% balance transfer card, which may offer up to 21 months with no interest.<\/li>\n\n\n\n
  4. Tidy up your financial profile.\u00a0Transfer your savings to a high-yield online savings account to earn a better interest rate and check that your bank isn\u2019t charging\u00a0monthly maintenance or service fees for overdrafts or insufficient funds.<\/li>\n\n\n\n
  5. Change your spending habits.\u00a0Going forward, a good way to reduce the amount you spend is to avoid impulse purchases. Woroch advises shoppers to turn off sale notifications in store apps, unsubscribe from retail newsletters and avoid walking into stores such as Target just to browse.
    LendingClub\u2019s paycheck-to-paycheck report is based on a survey of more than 4,000 U.S. adults in February.<\/li>\n<\/ol>\n\n\n\n

    Cnbc<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    It\u2019s getting harder to keep up with higher prices.As of February, 62% of all U.S. adults were living paycheck to paycheck, up from 60% a month earlier, according to a new LendingClub report.To make ends meet, more people have picked up a side hustle, the report also found.As pandemic-related benefits are scaled back, \u201cmany have turned […]<\/p>\n","protected":false},"author":5,"featured_media":8905,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1154],"tags":[4596,608],"class_list":["post-8904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-paycheck","tag-up"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/8904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8904"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/8904\/revisions"}],"predecessor-version":[{"id":8906,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/8904\/revisions\/8906"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/8905"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}