Your income is volatile from month to month
Sponsored Links:
Many American households have experienced a new trend in the post-recession economy: fluctuating monthly income.
A shift to the gig economy and to "just-in-time" work scheduling is causing many workers to experience big jumps or declines in month-to-month income. Such spikes and dips have been found to be common across all demographic groups and can be particularly corrosive because they add to the challenge of financial planning, according to research from The Pew Charitable Trusts.
That's backed up by the CFPB survey, which found that volatile income is linked to lower financial well-being. Americans who say their income varies month-to-month scored an average of 50 points, compared with 56 points for those with stable income.
