Friday, 31 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > World News > Six-figure incomes not enough to stop financial stress
World News

Six-figure incomes not enough to stop financial stress

Last updated: September 18, 2024 12:02 am
Share
Six-figure incomes not enough to stop financial stress
SHARE
By Susan Edmunds of RNZ

Financial strain is affecting high-income earners despite their substantial salaries, with factors like high interest rates, increasing council rates, and insurance costs playing a significant role.

Wellington mayor Tory Whanau’s recent revelation that she had to sell her car to manage her expenses raised eyebrows, considering her $190,000 annual income and past lottery winnings of $1.4 million. However, Angela Smart from MoneyTalks noted that Whanau’s situation is not uncommon.

There has been a noticeable rise in affluent individuals seeking financial assistance, with around 20% of MoneyTalks’ clients earning above the average household income of $130,000. Retirement Commission data indicates that only 55% of households earning $100,000 to $149,000 feel financially comfortable, while 68% of those earning $150,000 or more share the sentiment.

Smart highlighted a shift in the demographic seeking help, particularly from mortgage holders grappling with increasing interest rates. Rising living costs have squeezed many households, forcing some to consider cutting back on essentials like insurance.

Despite their financial success, many high-income earners struggle to manage their wealth effectively. Lifestyle inflation and a lack of financial literacy contribute to their financial challenges. Breaking the stigma around discussing money and seeking help is crucial to fostering a more sustainable approach to wealth management.

Statistics reveal that the cost of living has surged for high-spending households, with interest payments soaring by 27%. In contrast, beneficiary households experienced a lower increase in expenses. The burden of unexpected financial setbacks also drives affluent individuals to seek financial guidance.

Financial coach Shula Newland emphasized the importance of making sound financial decisions, even if it means downsizing luxury items like cars to reduce debt. Adopting a more prudent approach to spending and investing can help high-income earners navigate financial challenges more effectively.

See also  Capital One’s $35.5bn takeover of Discover Financial approved by US
TAGGED:financialincomesSixfigurestopstress
Share This Article
Twitter Email Copy Link Print
Previous Article Atlanta United vs. Inter Miami live stream: MLS prediction, odds, how to watch Lionel Messi Atlanta United vs. Inter Miami live stream: MLS prediction, odds, how to watch Lionel Messi
Next Article ABC Denies ‘Whistleblower’ Claim Kamala Harris Got Help in Trump Debate ABC Denies ‘Whistleblower’ Claim Kamala Harris Got Help in Trump Debate
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Savannah Chrisley Shares First Photos of Dad Todd After Prison Release

Todd Chrisley From Inmate to Insta-Ready!!! Savannah Shares First Post-Prison Pics Published May 30, 2025…

May 30, 2025

Some killer whales hunt in pairs to maximize their bounty

The new study on killer whale hunting behavior sheds light on the social dynamics and…

July 28, 2025

Alloy is bringing data management to the robotics industry

Robotics companies face a common but complex challenge: the sheer volume of data generated by…

September 23, 2025

Family mourns Seorin Kim as her daughter’s death remains unexplained

Seorin Kim holds her daughter, Lesley Kim, in this undated family photo. (Photo provided by…

October 12, 2024

Aging NY judges challenge ancient state law that would force them to retire at 76

A group of aging judges have taken legal action against the state of New York…

October 8, 2025

You Might Also Like

Senate report details cases of medical neglect in immigration detention centers
World News

Senate report details cases of medical neglect in immigration detention centers

October 31, 2025
Special Olympics Calls In Kid Rock For Using Ableist Slur: ‘Words Matter’
World News

Special Olympics Calls In Kid Rock For Using Ableist Slur: ‘Words Matter’

October 31, 2025
House of horrors stepmom Kimberly Sullivan wants stepson’s identity revealed — which his biological mom slams as ‘appalling’
World News

House of horrors stepmom Kimberly Sullivan wants stepson’s identity revealed — which his biological mom slams as ‘appalling’

October 31, 2025
90 Funny Winter Quotes That Will Make You Laugh and Help You Relieve Stress
Lifestyle

90 Funny Winter Quotes That Will Make You Laugh and Help You Relieve Stress

October 31, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?