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This is more than double the average income of $79,209, as per U.S. Census Bureau data.
But why do Americans feel this way and what can they do to ensure they live comfortably?
Heres why Rachel Cruze believesAmericans want more than a $180,000 salary to feel financially secure.
Why Do Americans Feel They Need To Earn $186K a Year?
According to Cruze, many Americans feel its hard to get ahead and blame outside forces like the economy.
Some things are beyond individual control, but not everything.
But there are steps you might take to get back to a point of feeling in control.
These are the main ones.
If half of your income is going toward housing costs, youre house-poor.
Cruze suggested dedicating no more than 25% of your income toward housing expenses.
If thats not feasible where you are right now, you may want to downsize or move.
Its not always easy, but it can be worth it in the long run.
This might mean looking for a new job or company, one that offers the opportunity for growth.
Or it might mean choosing acompletely new career path.
In either case, consider your options carefully before making any major changes.
Pay Off Your Debts
As Cruze put it, Ditch your debt.
The average new car payment is around $700 a month, according to LendingTree.
For used cars, the typical payment is $525 a month.
Thats a difference of thousands of dollars a year.
Thats why she suggested stepping back and making a budget to pay off your debts.
Again, this might not be easy or instantaneous.
But it can help.
But if you dont have that money, its hard to feel secure.
Cruze suggested starting with a smaller fund if you dont already have one.
You should ideally have three to six months worth of expenses set aside just in case.
Doing this just gives yousome breathing roomthat really is the cushion between you and life, Cruze said.
Make a Personal Budget
Cruzes final suggestion is to get on a household budget.
This can give you a much clearer picture of how much youre earning vs. how much youre spending.
It will also highlight the areas that you could potentially cut back.
If possible, make a budget on a monthly basis.
Plus, you might earn more or less in a given month.
Or something unexpected might come up that you dont normally pay for.
Change your budget accordingly to keep on top of your finances.
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