Six-figure salaries aren’t cutting it: Even high-earners are feeling the pinch right now and shopping at budget grocery stores
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Workers making over $100,000 aren’t choosing to fly economy over first-class—they are cutting back on dining out, buying clothes, and even delaying getting married.
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5 min read
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real estate
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August 1, 2025
03:56 PM
Fortune
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Success·Personal FinanceSix-figure salaries aren’t cutting it: Even high-earners are feeling the pinch right now and shopping at budget grocery storesBy Emma BurleighBy Emma BurleighReporter, SuccessEmma BurleighReporter, SuccessEmma Burleigh is a reporter at Fortune, covering success, careers, entrepreneurship, and personal finance
Before joining the Success desk, she co-authored Fortune’s CHRO Daily , extensively covering the workplace and the future of jobs
Emma has also written for publications including the Observer and The China ject, publishing long-form stories on culture, entertainment, and geo
She has a joint-master’s degree from New York University in Global Journalism and East Asian Studies.SEE FULL BIO Workers making over $100,000 are cutting back on dining out, buying clothes, and going to the dollar store to make ends meet.Inside Creative House / Getty ImagesWorkers making over $100,000 no longer consider themselves “rolling in it”—more than half of six-figure earners no longer feel financially successful
Those with top salaries are shopping at discount grocery stores, and cutting back on dining, clothes, and travel as they try and make ends meet
They’re even stalling major life plans— renovating their s, and throwing their weddings
Being a six-figure earner once felt an exclusive , with the mise of a lavish life—but now those making over $100,000 are feeling the pinch
So much so that they’re even buying their groceries at dollar stores and ditching takeouts
More than half (58%) of six-figure earners no longer feel financially successful, according to a recent report from Clarify Capital
Six-figure earners aren’t choosing to fly economy over first-class—they’re looking for better deals when it comes to the essentials
More than seven in 10 of these high earners are now being forced to shop at discount grocery chains to cash
Around 74% also say they’re cutting back on dining out, 54% are skimping out on entertainment, 51% are getting thrifty with buying clothes, 49% are scaling back their subscriptions, and 49% are spending less on travel
However, they’re not ashamed of their new thrifty ways, with 62% of six-figure earners udly claiming they aren’t embarrassed to admit they’re cutting back. “In today’s economy, income alone doesn’t guarantee financial peace of mind,” the report says. “High earners are feeling squeezed by inflation, stressed by social pressure, and more mindful what it really means to be well-off.” “As spending habits shift and priorities change, one thing is : real wealth is security, not just .” The wealthy are cutting back on major life purchases too Once the epitome of “making it” in America, workers earning six figures are now in the same boat as their less wealthy peers
And beyond the day-to-day expenses, those considered to be “rich” are also delaying major life purchases. 47% are setting back their dream vacations and travel, 31% are stalling on renovations, and 26% are delaying buying or leasing a new car
Perhaps unsurprisingly, the tough housing market has forced many to rethink their American dream timelines, as 17% are pushing back buying a new —and 6% of six-figure earners are even delaying getting married
Essentially, the rising cost of living crisis has forced people in all tax brackets to watch their spending, causing anxiety. 85% of six-figure workers say they feel stressed and anxious due to increased living costs—and it’s even worse for women
Around 88% of top-earning women feel worried keeping their checkbooks balanced, compared to 81% of men
The new upper-class: making more than $200,000 It’s no surprise that six-figure earners are pinching pennies when it comes to daily essentials—after all, more than half of Americans making over $100,000 annually d paycheck to paycheck in 2022, 7% more than the previous year, according to a 2023 report
The cost-of-living crisis has pushed the needle of wealth to a new high
In some parts of the U.S., making around $200,000 isn’t even considered to be “rolling in it.” A household making $199,000 a year in Massachusetts and New Jersey would still be considered middle-class, according to a 2025 analysis of 2023 U.S
And in every single state in America, a $100,000 salary is no longer enough to be considered to be upper-class
There are several reasons why more six-figure earners are struggling to make ends meet
Some employees have been hit with wage deflation, and the spect of switching jobs for better pay has been up
Employees who stayed in their current roles received a 4.6% wage bump in January and February, while those who switched jobs received only a marginally higher increase of 4.8%, according to 2025 data from the Atlanta Fed
Also, inflation has increased living expenses across the board
People may assume a middle-class lifestyle could at least keep up with the basics, but 65% of those households say their incomes were falling behind the cost of living, according to a 2024 study from Primerica.Introducing the 2025 Fortune 500, the definitive ranking of the biggest companies in America
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