Fed report details how Americans fared in 2015
- 69% say they are "doing ok" or "living comfortably" vs 65% in 2014. 31% (76m) are struggling to, or just getting by
- 46% would struggle in a financial emergency
- 47% would have been able to cover a $400 emergency with cash or savings, 29% would have had to use credit card and paid it off next statement, 17% would have carded it and paid it off over time, 13% would have had to borrow from a friend or relation
- Nearly 50% said they are better off than their parents were at the same age, 26% about the same, 23% said worse
- 22% of those employed say they are either working multiple jobs or doing informal work for pay in addition to a main job
- 23% expect higher pay this year vs 29% prior
On a quick speed read it doesn't exactly paint a rosy picture from the streets.
What maybe surprising is that a greater percentage of those earning less that $40k felt they were doing ok than those earning more than $100k.
