A Pew Research Center survey found that 71% of middle-income earners have cut back on spending on extras such as eating out. Only 47% of middle-income earners were able to save money in the past year, and just over half lack emergency funds covering three months of expenses. Lower-income earners are also struggling to save and afford necessities. The analysis highlights financial pressures on middle-income Americans amid rising inflation and affordability concerns.
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