Generation X consumers, baby boomers and seniors all allocate more than 60% of their monthly incomes to housing, supplies and other regular bills. Generation Z consumers, meanwhile, allot just 47% to those expenses. In fact — according to PYMNTS Intelligence’s recent Paycheck-to-Paycheck Report, “Why 60...
Credit card delinquency rates fell last month as consumers continued to spend. As Seeking Alpha reported Sunday (April 28), the average delinquency rate dipped from 3.09% in February to 2.92% in March, though it has risen from 2.49% a year ago. The average is still...
For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted in a report Sunday (April 28) on the phenomenon. Among the lenders in question is Wells Fargo,...
The latest data on personal consumption notes that spending is outpacing the growth in disposable income. And as a result, consumers are dipping into savings to keep their spending apace. The latest personal income expenditures (PCE) price index from the Bureau of Economic Analysis indicates...
May 24, 2024
Generation X consumers, baby boomers and seniors all allocate more than 60% of their monthly incomes to housing, supplies and other regular bills. Generation Z consumers, meanwhile, allot just 47% to those expenses. In fact — according to PYMNTS Intelligence’s recent Paycheck-to-Paycheck Report, “Why 60 Percent of Gen Z’s Live Paycheck to Paycheck” — Gen […]
March 04, 2024
Consumers are now saving less money for the proverbial rainy day than they were a year ago. The personal savings rate in January was 3.8%, which was higher than December’s 3.7% but...
March 01, 2024
The rise of the gig economy has transformed work for millions of individuals. From freelance creatives to ridesharing drivers, gig workers are pursuing financial independence on their terms, redefining the...
February 03, 2024
It seems United States consumers expect little reprieve from inflation-fueled rising prices of goods and services moving into 2024. Although consumers report feeling somewhat better about their current finances, data...
April 29, 2024
Credit card delinquency rates fell last month as consumers continued to spend. As Seeking Alpha reported Sunday (April 28), the average delinquency rate dipped from 3.09% in February to 2.92% in March, though it has risen from 2.49% a year ago. The average is still higher than the pre pandemic 2.76% recorded in March 2019. […]
April 28, 2024
For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted...
April 25, 2024
BlackRock has debuted a savings product designed to give retirees a guaranteed, paycheck-style income. The asset management giant on Thursday (April 25) announced its LifePath Paycheck solution, which gives plan participants the option...
March 26, 2024
Varo Bank has introduced two new products aimed at helping Americans alleviate their financial pressures. The online bank on Tuesday (March 26) announced the launch of Varo Line of Credit, along with the...
