One in four U.S. households is living paycheck to paycheck and struggling to get by, according to a new Bank of America Institute analysis.

Researchers analyzed internal data from millions of consumers and found about a quarter of households spend more than 95% of their income on necessities such as groceries, housing, gas, child care and utilities. The percentage of Americans who are spending over 95% of their income on necessities has increased the last two years.

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Living paycheck to paycheck was more likely to impact low-income households. Nearly 30% of low-income households were living paycheck to paycheck, while less than 20% of higher income households spent over 95% of their incomes on nec

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