A new employee report said on Friday that as many as 60% of
The report, a collaboration between data analysis PYMNTS and
The report said that 66% of those living paycheck to paycheck have slashed spending.
"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
The report also revealed that 28% of consumers making more than
Inflation, some of the highest in decades across
The struggle for paychecks to keep up with inflation could have a real effect on holiday spending going into the Christmas season. A report by Salary Finance said that two-thirds of working adults said they are worse off financially than they were in 2021.
Credit card balances are up 15% more in the latest quarter, the biggest increase in two decades.
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