On Tuesday’s broadcast of CNBC’s “Squawk Box,” CNBC Senior Personal Finance Correspondent Sharon Epperson discussed CNBC’s Your Money Financial Confidence Survey that the network conducted with Momentive and noted that even a majority of people earning $100,000 or more say they’re stressed about their personal finances and inflation is the top cause of this.
Epperson stated, “A vast majority of respondents, 70%, say they are stressed about their personal finances and that includes 57% of people earning $100,000 or more. This survey of more than 4,000 adults in the United States was conducted during the last week of March, and overall, 58% say they’re living paycheck-to-paycheck, that’s also true for those making six figures, about 1/3rd [admit] that that’s how they’re living. And the main factors contributing to financial stress for the six-figure set include inflation, economy-wide instability, interest rates, and a lack of savings. They’re the same stressors for respondents overall.”
She added that “people are really feeling stretched, no matter how much money they have.”
In the survey, inflation was the number one cause of financial stress for respondents, including those making over $100,000, with 59% overall and 61% of the $100,000 and above group saying inflation contributes to their financial stress.
Follow Ian Hanchett on Twitter @IanHanchett
