Young Americans Are Blowing Their Entire Paychecks Two Days After Getting Paid

Two days. That’s how long it takes for nearly half of the average American’s paycheck to disappear.

A new Talker Research survey commissioned by the financial app EarnIn found that 48 percent of a worker’s pay is spent within 48 hours of hitting their account. More than a third is gone within the first twelve. And before some boomer says to “lay off the Starbucks,” most of this money is going to survival. Groceries, gas, rent, and bills drain balances before people even remember what payday feels like.

Millennials are the quickest to spend, burning through about 40 percent of earnings within twelve hours. Gen Z isn’t far behind and pays a steeper price for it. Over the past year, younger workers have spent an average of $275 on overdraft and late fees, compared to just $27 for baby boome