According to FINRA’s 2015 NFCS survey, 40% of people spend less than they earn, while 38% live from paycheck to paycheck. They can live within their means. But 18% spend more than they make and therefore live in debt.
And the numbers say it all. The Federal Reserve’s Consumer Credit G.19 Report (March 2019) has stated that total consumer debt is a whopping $3.999 trillion ($12,169 per capita).