High costs drive most adults to live paycheck to paycheck

The cost of living is the primary obstacle preventing adults from achieving financial security, according to a new survey. ConsumerAffairs polled 1,000 adults between the ages of 18 and 64 to determine what keeps households from feeling stable. The results show that high expenses are a larger hurdle than debt repayment or home ownership.

More than half of the participants define financial security in simple terms: not living paycheck to paycheck. Dayna Edens, the public relations manager at ConsumerAffairs, noted that making ends meet has become the baseline goal for many people. Only 20% of those surveyed can state the exact dollar amount they would need to feel financially secure.

Savings levels remain low across the group. Four in 10 respondents reported having less than $1,000 saved, excluding retirement accounts and home equity. Edens explained that this small reserve is often the only money available for unexpected emergencies, such as an emergency room visit or a car repair. An additional 19% of participants said they have no savings set aside at all.

When asked what single change would most improve their financial situation, respondents did not choose paying off debt or buying a home. Instead, they identified covering basic expenses with money left over as the most impactful step. This finding underscores the pressure of daily costs on household budgets.

Financial experts included in the report suggest that individuals build an emergency fund and pay down high-interest debt when possible. Edens advised people to be realistic about their current circumstances, noting that high costs are a systemic issue rather than a personal failure. She encouraged adults to focus on what they can do right now to stay afloat.