Consumers Face Financial Crunch from Rising Emergency Expense Costs
The average consumer emergency expenses have risen 16% to $1,700, far above the Fed’s $400 benchmark. PYMNTS’ latest survey of 3,620 consumers, “
New Reality Check: The Paycheck-to-Paycheck Report,” a collaboration with
LendingClub, finds that nearly half of struggling paycheck-to-paycheck consumers have faced at least one unexpected expense in the last 90 days, with one-quarter reporting they could not to pay.
