Think earning six figures means financial freedom, fancy dinners, and weekend getaways? Think again. A recent report by Fortune, citing a Harris Poll survey, reveals a surprising truth: even Americans making $100,000 to $200,000—or more—are feeling the squeeze of rising living costs. For many, a high salary no longer guarantees comfort; it’s simply the bare minimum to stay afloat.Libby Rodney, chief strategy officer at Harris Poll, calls it “the illusion of affluence.” Behind the image of success, top earners are quietly juggling debt, credit cards, and everyday expenses—while still trying to climb the career ladder.
Everyday financial tactics of high earners
It might surprise you, but many high earners are using money-saving strategies typically associated with middle-class budgets:
- Rewards points for essentials: 64% said they’ve used points to pay for groceries, gas, or other necessities.
- Buy now, pay later (BNPL): 50% rely on BNPL plans even for purchases under $100.
- Credit cards for survival: 46% use credit cards to cover routine expenses, juggling interest payments carefully.
Cutting back without losing face
Even social lives aren’t safe from the financial pinch. Many respondents admitted to small, creative ways of reducing costs:
- 49% skipped social events to avoid splitting a bill.
- 48% pretended apps like Venmo or Zelle weren’t working to dodge a payment.
- 45% postponed medical appointments or care due to costs.
Groceries, housing, and healthcare remain the top money drains, proving that high salaries don’t shield anyone from everyday expenses.
Side hustles, selling stuff, and career hacks
With bills piling up, many six-figure earners are looking for extra ways to make or save money:
- Side hustles: 61% are already engaged or considering taking on additional work.
- Selling personal items: 53% have sold belongings to generate cash.
- Lifestyle sacrifices: 41% skip meals or rent out part of their homes.
Debt management : 38% have considered debt consolidation or even bankruptcy to stay afloat.
These moves aren’t just about survival—they’re strategic. Professionals are thinking about their long-term careers, balancing current spending with future opportunities, promotions, and financial security. In other words, financial savvy is now an essential career skill, not just a personal one.
What this means for professionals and the economy
If even top earners are feeling the pinch, it’s a signal that career planning and financial literacy are more critical than ever. Moody’s chief economist Mark Zandi points out that the U.S. economy heavily relies on the spending power of high earners. If they start cutting back, it could ripple across sectors, slowing growth.For ambitious professionals, the lesson is clear: career success doesn’t automatically translate to financial comfort. Managing money wisely, exploring side hustles, and planning for unexpected costs are becoming as important as landing that promotion.So, next time someone assumes that a six-figure salary means life in the fast lane, remember: behind the paycheck, there are quiet sacrifices, careful calculations, and strategic choices—both for today’s lifestyle and tomorrow’s career.
