Middle-income Americans are feeling the squeeze
Source: Business Insider ·
A Pew Research Center survey showed that some Americans are cutting back on spending on extras and don't have months of rainy-day funds.
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A Pew Research Center survey found 71% of middle-income earners have cut back on spending on extras, such as eating out.andresr/Getty ImagesA Pew Research survey found only 47% of middle-income earners could save money in the past year.Lower-income earners are also having a hard time saving and affording necessities.Inflation moving in the wrong direction doesn't help the affordability situation.America's middle earners are feeling the squeeze.A new analysis from the Pew Research Center examines how Americans' finances are faring, an especially salient topic in a midterm season where affordability is very much on the ballot.America's middle earners — those who make between $50,700 and $152,000 after adjusting for their family sizes and the cost of living in their areas — increasingly don't have enough saved for an emergency. Just over half of middle-income Americans say they don't have rainy-day funds that would cover expenses for three months in the event of an emergency.Meanwhile,…