New research shows Americans spend over one-third of their paycheck within 12 hours of receiving it. A survey of 2,000 employed Americans found millennials lead this trend, spending 40% immediately. Within 48 hours, nearly 48% of the average paycheck disappears. Most early spending covers essentials like groceries and necessities (52%), weekly bills (48%), and major obligations including housing or credit cards (42%). This leaves just 52% for the remaining pay period, explaining why only 28% prioritize immediate savings. The survey revealed 34% admit overspending after payday. Gen Z faces particular pressure, with average overdraft fees of $275 versus $27 for baby boomers. (Story URL)
