Americans ended 2023 dealing with increasing financial strain, relying more on personal loans. That’s according to a recent report by VantageScore, which warns that increased dependence on these loans and other higher-interest credit products could make it harder for consumers to pay their bills in the months...
Consumers with difficulties making ends meet may have a reason to be optimistic, recent PYMNTS Intelligence data shows. Looking at the U.S. population according to financial lifestyle, the PYMNTS Intelligence “New Reality Check: The Paycheck-to-Paycheck Report” identifies three different sets of consumers: those who live...
The holidays can be a stressful time financially for many consumers. Often, those consumers — particularly those living paycheck to paycheck — turn to their credit cards as an essential financing tool. But these quick-fix expenditures can add up. “Americans now owe over $1 trillion...
In recent years, split-pay options have gained popularity among consumers of all demographic groups looking for greater flexibility in managing their expenses. But it’s not millennial, Gen Z, or low-income consumers who are most likely to use these plans — it’s high-income consumers. This applies...
Emergency expenses are a reality all consumers eventually face — and when economic headwinds and factors like rising prices enter the equation, these unexpected expenses can be burdensome, especially for credit-marginalized and younger consumers. Some consumers’ savings will not be enough to cover the cost...
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...