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TeamDML offers insights, opinions, podcasts, videos and other forms of content intended to educate and better explain trending news that is made available to the public by third parties. In this particular case, we refer to an excerpt from Breitbart:
The majority of U.S. adults are living paycheck to paycheck heading into this holiday season, a report shows.
LendingClub’s latest report shows that as of October, 60 percent of adults said they are living paycheck to paycheck. Around 40 percent of consumers consider themselves to be worse off now than in 2022.
Even higher earners are struggling to get by, with 42 percent of those making six figures also living check-to-check under President Joe Biden.
The report also shared the following statistics:
- 42%: Portion of consumers annually earning more than $100K living paycheck to paycheck as of October 2023
- 43%: Share of consumers living paycheck to paycheck and struggling to pay bills who plan to use credit for holiday spending
- 37%: Share of consumers who say they will use savings to pay for holiday expenses
4 in 10 consumers plan to tap into savings to cover holiday expenses. Dive into more data in the latest Paycheck-to-Paycheck Report, a PYMNTS Intelligence & @LendingClub collaboration: https://t.co/CRwjvIVkA9 pic.twitter.com/1yaFYT20mm
— PYMNTS (@pymnts) November 20, 2023
To get more information about this article, please visit Breitbart.
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