Consumers emerged from the depths of the pandemic into a period of sustained inflation, rising interest rates and market volatility, likely making it more difficult for many Americans to make ends meet. In particular, those with limited income streams, like some Gen Z adults (born between 1997 and 2005). Perhaps as a result, many consumers […] Continue reading
Owning a home is one of the most effective ways to build wealth in America. In fact, the median net worth of U.S. homeowners is 40x higher than that of U.S. renters. Those priced out of homeownership, and therefore the opportunity to build equity, are forced to find other housing solutions, which most often includes […] Continue reading
When people hear the term “net worth”, names of distinguished CEOs and famed celebrities likely come to mind. That’s because the term “net worth” is most often searched when investigating the wealth of a random celebrity or the richest person in the world. However, despite Americans’ fascination with other people’s net worth, it’s not a […] Continue reading
March 14 represents how far into the year women would need to work in order to earn the same amount of money as men in 2022. That’s because women are still paid less than their male counterparts and stand to lose up to $1 million dollars throughout their career as a result of the pay […] Continue reading
Spending behavior is often driven by emotions, not logic. This was especially true during the pandemic, which surfaced feelings of anxiety, uncertainty and boredom among consumers. Now, with layoffs and concerns of a potential recession, emotions could be running high driving consumers to spend more money to cope with their emotions – and even take […] Continue reading
One-in-five respondents reported they have outstanding federal student loans 53% of respondents with outstanding federal student loans say their financial stability depends on their loans being forgiven About a quarter (26%) of respondents with outstanding federal student loans say the money they previously paid toward their student loans is now being used for bills and […] Continue reading
Nearly half of first-generation Americans provide financial support to their parents and/or extended family (47%) 57% of first-generation Americans feel obligated to financially support their family Nearly a quarter of those supporting their families financially say that doing so is holding them back from paying for basic necessities (24%) First-generation Americans, those who are born […] Continue reading
30% of Americans say they’re reliant on their tax refund to make ends meet in 2023, especially Gen Z and millennials Despite fewer pandemic tax credits, 29% of Americans expect a higher tax refund this year Nearly a quarter of American taxpayers plan to use their tax refund to pay for necessities (24%) It’s the […] Continue reading
More than two-thirds of Americans’ finances did not improve or stayed the same in 2022 (68%) 76% of Americans made a financial mistake in 2022. The most common mistake? Not saving any money (40%) More than money mistakes, 35% of Americans developed bad financial habit(s) in 2022 Say goodbye to 2022 and all of the […] Continue reading
31% of parents with children over the age of 18 are currently supporting their children financially 69% of the parents who financially support their adult children say it causes them financial stress Nearly a quarter of parents who financially support their adult children say they provide them with a regular allowance or checks (24%) Gone […] Continue reading