Many people are resorting to credit cards to navigate difficult financial times, especially as the rising prices of goods and services continues to weigh on U.S. consumers’ wallets this holiday season. In “The Credit Card Use Deep Dive Edition” of the “New Reality Check: The Paycheck-to-Paycheck...
The holiday season has offered little reprieve from the rising prices of goods and services still weighing on consumers’ wallets. Many consumers use credit cards as a cash flow management tool. As of November 2023, 62% of consumers lived paycheck to paycheck, with 20% struggling...
The burden of student loan debt continues to weigh heavily on millions of Americans, as evidenced by the significant number of borrowers who have not resumed making payments after the pandemic-induced pause. Following a three-year pause, payments on federal student debt officially resumed in October,...
An increasing number of drivers reportedly owe more on their loans than their cars are worth. It’s a situation known as negative equity, and last month, American consumers were “underwater” on their loans by an average of $6,054, the most since April 2020, Bloomberg News reported...
Trial attorney Rogge Dunn has filed two class-action lawsuits against lenders alleging violations of the Texas Deceptive Trade Practices Act, negligent misrepresentation and gross negligence against Texas homeowners. Filed in state court in Dallas County, the lawsuits target loanDepot and Cardinal Financial, Rogge Dunn Group said in a Wednesday (Dec. 13) press...
A recent report by PYMNTS Intelligence has shed light on a growing trend among consumers — they are tipping less this year. The “Tipping Over: Consumers Reducing Spending and Avoiding Tips” report, the 17th installment in the PYMNTS “Consumer Inflation Sentiment” series, draws on insights...
The unemployment rate is at pre-pandemic levels and inflation has dropped from 9.1% in July 2022 to 3.2% in October 2023, according to the Bureau of Labor Statistics. Yet 38% of all consumers say they are worse off than last year, and 62% are very...
Higher rates are proving to be headwind to borrowing, per the Federal Reserve’s latest stats. But growth is still growth and consumers are still tapping traditional credit sources to augment their spending. The Fed’s report on consumer credit, released late Thursday (Dec. 7) showed that...
When household finances are tight, consumers use various strategies to manage their budgets and make ends meet. This behavior applies to every spending category, from clothing to travel, but especially to essentials like groceries. After two years of persistent inflation, a more cost-conscious U.S. consumer...
