The New American Wealth: 7 Key Salary Thresholds Defining Rich in 2024
From tax brackets to generational expectations, new data reveals the evolving salary benchmarks that define wealth in America today. Analysis shows Americans now believe they need $520,000 annually to feel rich, while persistent inflation continues reshaping financial aspirations.
Buy Now, Pay Later Services Expand into Auto Repairs and Healthcare as Inflation Bites
Americans increasingly turn to BNPL payment options for essential car repairs and medical procedures as household budgets tighten under inflation. Auto shops and healthcare providers are partnering with BNPL companies to offer flexible installment plans, though experts urge careful review of terms.
GoFundMe Housing Campaigns Surge 400% Amid Cost-of-Living Crisis
GoFundMe reports a fourfold increase in campaigns for basic necessities like housing in 2023, reflecting widespread economic hardship. The surge highlights how rising inflation and housing costs are pushing more Americans to seek crowdfunding assistance for essential needs.
Real Wages Fall Behind: Inflation Outpaces US Worker Pay Gains Since 2021
Despite steady increases in private sector hourly wages reaching $34.61 by late 2024, persistent inflation has eroded Americans' purchasing power. The trend became particularly severe in 2022 when inflation hit 8% while wages grew only 4.14%, creating one of the largest real wage declines in recent years.