Living beyond one’s means has become the norm for a large share of Americans, according to a new report from Clever Real Estate, a nationwide discount real estate broker where sellers can compare full-service, low-commission real estate agents near them and save money on their next sale.
The report found that half of Americans (50%) currently live paycheck to paycheck, and an overwhelming majority, 74%, believe they’ll still be in that position a year from now.
Homeownership Makes a Difference
The data shows a clear link between homeownership and financial stability.
Homeowners (42%) are notably less likely than non-homeowners (61%) to live paycheck to paycheck, and two-thirds of homeowners (68%) say they’re satisfied with their finances, compared to just 47% of non-homeowners.
Non-homeowners are also far more likely to blame housing costs for their financial troubles. 39% blame housing costs, compared to 22% of homeowners, and they’re twice as likely to lack an emergency fund (61% versus 30%).
Interestingly, homeowners actually spend more on nonessential purchases than non-homeowners. Thirty percent of homeowners spend at least $500 a month on nonessentials, compared to 18% of non-homeowners.
About 20% of homeowners have delayed home repairs because of their spending habits, a figure that jumps to 35% among those who describe themselves as overspenders.
Overspending Is Widespread
More than 1 in 4 Americans surveyed (27%) describe themselves as overspenders.
Homeownership rates diverge sharply along these lines: fewer than half of overspenders (49%) own a home, compared to 62% of those who don’t overspend.
The consequences of overspending show up in everyday financial setbacks.
About 44% of Americans have missed a bill because of spending on nonessentials, and 51% have had to delay major life milestones, including 72% of Gen Z respondents.
Roughly 10% of Americans have put off buying a home, and 19% have delayed saving for retirement.
Debt is also common. Two-thirds of Americans (68%) carry non-mortgage debt, and more than a quarter (29%) owe at least $10,000.
Among self-described overspenders, those numbers climb sharply: 86% carry non-mortgage debt, and 45% owe $10,000 or more.
Impulse Buying and Regret
Impulse purchases are nearly universal, with about 88% of Americans admitting to making them.
Nearly 1 in 4 (22%) have spent $1,000 or more on a single purchase, and more than half (59%) admit they’ve knowingly bought something they couldn’t afford.
Just over half of Americans (51%) say they shop spontaneously at least once a month.
Attitudes toward money and spending reveal some underlying tension: about one-third (33%) of respondents say money buys happiness, and 31% admit they prioritize short-term gratification over long-term financial stability.
Similarly, 32% say their lifestyle costs more than they earn.
The emotional toll is significant.
About 68% of Americans, including 97% of overspenders, regret their spending habits.
Nearly 1 in 5 (18%) say their spending has ruined their life. Roughly 61% have lost sleep over their finances, 46% have cried over their spending, and 24% are afraid to check their bank accounts.
Younger Generations Feel It Most
The data shows overspending skews heavily toward younger generations.
About 49% of Gen Z and 39% of millennials identify as overspenders, compared to just 12% of baby boomers.
Despite the widespread struggles, most Americans recognize the problem and are trying to address it.
About 86% of those surveyed, including 96% of overspenders, say they have already tried to rein in their spending.
The full report is available at listwithclever.com/research/spending-habits-2026.
