Here's why Americans can't keep money in their pockets — even when they get a raise

More than half of Americans earning more than $100,000 a year say they're living paycheck to paycheck, according to a report from PYMNTS and LendingClub. This may be a result of a sneaky behavioral phenomenon called lifestyle creep, which is when a person's spending habits expand as their income rises. The rise in the cost of living complicates matters, as incomes have not kept up with inflation. Watch the video above to learn more about why Americans struggle to keep money in their pockets.

By: CNBC Television
Title: Here's why Americans can't keep money in their pockets — even when they get a raise
Sourced From: www.youtube.com/watch?v=3fGxOuTZacw

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