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70% of Millennials Are Living Paycheck to Paycheck, more than any other generation.

70% of millennials say they're living paycheck to paycheck, according to a survey. Millennials are in a precarious life stage, hitting expensive life milestones but not yet peak earnings. The many economic challenges millennials have faced also make things financially difficult. Loading Something is loading.

Millennials' wallets are rather skimpy.

Seventy percent of the generation said they're living paycheck to paycheck, according to a survey by PYMNTS and LendingClub, which analyzed economic data and census-balanced surveys of over 28,000 Americans. It found that about 54% of Americans live paycheck to paycheck, but millennials had the biggest broke energy.

By contrast, 40% of baby boomers and seniors said they live paycheck to paycheck, the least of any generation. Living paycheck to paycheck reflects economic needs and wants just as much, if not more than, incomes or wealth levels, according to the report. Age and family status also factor in greatly. This explains why millennials, who turn ages 25 to 40 this year, are struggling.

"Millennials — especially older ones — are collectively at important stages of their lives," the report reads. "They may be starting families or taking on their first major purchases, such as homes and new vehicles, but they may also be less advanced in their careers than their older c...

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