Consumers Deplete Two-Thirds of Their Savings Every Four Years

New Reality Check: The Paycheck-to-Paycheck Report: The Savings Deep Dive Edition

More than three-quarters of consumers report having used a significant percentage of their savings to meet a major expenditure at least once. In PYMNTS Intelligence’s latest survey of 3,648 U.S. consumers, “New Reality Check: The Paycheck-to-Paycheck Report,” a collaboration with LendingClub, takes a deep dive into why consumers aren’t saving their savings for very long.

Inside the October Study
  • 20%: Portion of consumers who cited job losses or income reductions as a reason they depleted their savings
  • 35%: Share of consumers earning $200K+ annually who report increased savings ability compared to 2022
  • 30%: Portion of consumers who dealt with a major expense using a significant percentage of their savings in the last year

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