Just as the holiday shopping season gets into full swing, families are finding less slack in their budgets than before.
As of October, 60% of Americans were living paycheck to paycheck, according to a recent LendingClub report. A year ago, the number of adults who felt stretched too thin was closer to 56%.
“More consumers who have historically managed their budgets comfortably are feeling the financial strain, which will impact their spending behavior as we head into the holiday shopping season,” said Anuj Nayar, LendingClub’s financial health officer.
60% of Americans are living paycheck to paycheck heading into the peak shopping season https://t.co/Eg42Tf3pvd
— CNBC (@CNBC) November 18, 2022