CNN —
When considering who is living paycheck to paycheck, households with an income of six-figures or more likely aren’t the first to come to mind. But, as it turns out, about a fifth of US households that earn more than $150,000 a year are in that situation.
That’s according to a new Bank of America analysis of anonymized US customers’ banking accounts and spending data.
The authors of the analysis define people who live paycheck to paycheck as those who dedicate more than 95% of their household income to necessities, which include gasoline,
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