4 in 10 Consumers Will Use Savings to Cover Holiday Expenses

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

Nearly 8 in 10 consumers expect to spend this holiday season, with 13% planning to finance gifts and 37% planning to tap savings. PYMNTS Intelligence’s latest survey of 3,640 U.S. consumers, “New Reality Check: The Paycheck-to-Paycheck Report,” a collaboration with LendingClub, explores the factors driving holiday shoppers to be conservative in their spending this year.

Inside the November Report
  • 42%: Portion of consumers annually earning more than $100K living paycheck to paycheck as of October 2023
  • 43%: Share of consumers living paycheck to paycheck and struggling to pay bills who plan to use credit for holiday spending
  • 37%: Share of consumers who say they will use savings to pay for holiday expenses

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