The Nonessential Spending Deep Dive Edition

Budgets May Be Tight but Two-Thirds of Paycheck-to-Paycheck Consumers Continue to Splurge

Two in 10 paycheck-to-paycheck consumers say nonessential spending is one reason for their financial crunch, even as two-thirds of all paycheck-to-paycheck consumers include nice-to-have items when shopping at least some of the time. PYMNTS’ latest survey of 3,443 U.S. consumers details how this behavior impacts their financial lifestyle. Read more in “New Reality Check: The Paycheck-to-Paycheck Report: The Nonessential Spending Deep Dive Edition,” a collaboration with LendingClub.

Inside the August Report
  • 61%: Portion of consumers who lived paycheck to paycheck as of July 2023
  • 21%: Share of paycheck-to-paycheck consumers who cite nonessential spending as a reason for their financial lifestyle
  • 36%: Share of Gen Z who describe spending as indulgent for at least three product or service categories

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