""Our data shows that even high earners are financially anxious - they're living the illusion of affluence while privately juggling credit cards, debt, and survival strategies," Libby Rodney, the Harris Poll's chief strategy officer and futurist, said in a statement. In fact, those making $200,000 or more have resorted to financial tactics that are often associated with less wealthy consumers."
"The Harris Poll report also revealed how those top earners are avoiding expenses: 49% skipped a social event so they wouldn't have to split a check, 48% have pretended an app like Venmo or Zelle wasn't working to dodge a payment, and 45% held off on medical care due to the cost. And like most Americans, six-figure earners also report that groceries and other household essentials as well as housing and medical costs are the top expenses draining their income."
Many Americans earning six figures report feeling financially squeezed as living costs rise. Sixty-four percent say a six-figure income is merely the bare minimum to stay afloat rather than a success milestone. High earners with incomes above $200,000 increasingly use tactics like rewards points for essentials, buy-now-pay-later plans for small purchases, and credit cards to make ends meet. Top earners also avoid expenses by skipping social events, dodging peer payments, and delaying medical care. To stretch income they consider side hustles, selling items, renting space, skipping meals, and sometimes debt consolidation or bankruptcy.
Read at Fortune
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