“I think there’s two sides to that coin. On one side, you have a level of relatability. That person, you know, you may have many people who are in a position to vote for that individual that may relate to them and may feel comfortable and inclined to vote for them because they look at them as somebody who’s in a similar fact and circumstances to where they are,” he said.
“But then you have on the other side of the coin, you have to say to yourself, ‘How are we going to have somebody lead us who is living paycheck to paycheck and perhaps has not planned appropriately for their financial life to not be in that position?’” Sprung continued. “When it comes down to a voter, they can look at it one of two ways.”
A recent report from LendingClub that around 61% of Americans, including both low-income and high-income families are living paycheck to paycheck. The analysis found the number of Americans living paycheck to paycheck rose by 2% from the previous year.
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Some Americans rallied behind House Speaker Mike Johnson after a report last week suggested he might live paycheck to paycheck. (Photo by Chip Somodevilla/Getty Images / Getty Images)
Sprung said it’s important for Americans who live paycheck to paycheck to understand there are things they can do to better themselves going forward.
“I think some of those things are having a plan, and that should include having a budget,” he said. “I think a lot of people, whether you are living paycheck to paycheck or not, are intimidated by putting a budget together and actually seeing how much money is coming in each month and how much money is going out.”
He said that once a person understands their budget, and where the money is being spent, it’s much easier to put yourself in a position to start saving.
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