Reality Check: The Paycheck-To-Paycheck Report: The Diverse Demographics of Personal Loan Users

Report: Personal Loans Help 36M Paycheck-To-Paycheck Consumers Stay Afloat

Reality Check: The Paycheck-To-Paycheck Report: The Diverse Demographics of Personal Loan Users

Paycheck-to-paycheck consumers are still struggling to pay their bills, especially as their savings accounts run dry. The Reality Check: The Paycheck-To-Paycheck Report, a PYMNTS and LendingClub collaboration, surveys over 2,300 U.S. consumers to reveal how struggling consumers use personal loans as a financial lifeline in times of need.

Inside the September Report

  • 78 percent: Portion of consumers who do not have trouble paying their bills, even if living paycheck to paycheck
  • 32 percent: Share of millennials and bridge millennials who live paycheck to paycheck and have taken out personal loans
  • 68 percent: Portion of personal loan users who earn more than $50,000 annually

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    New Reality Check: The Paycheck-to-Paycheck Report