As soon as money comes in, it goes out. That’s the reality a lot of these days, according to a study that found the average American spends nearly half their paycheck within 48 hours of receiving it.
And it’s not on any frivolous purchases, either.
According to Talker Research and EarnIn, 52% of people say they cover groceries or necessities as soon as they receive their paycheck.
Others pay bills due within the week . . . or take care of major obligations like rent or credit cards. An additional 32% also knock out smaller bills, such as utilities or subscriptions.
Further, the study found that these results are especially true for Millennials, who spend money faster than any other generation.
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