Economy

More consumers are using Buy Now, Pay Later offerings for everyday expenses and necessities like food and gas, leading consumer advocates and economists to worry about the state of the economy and the lack of insight into just how much debt consumers are taking on, likening the product to the …

Credit cards remain the most popular and common debt product used by consumers, regardless of age or income level, according to the results of a recently published survey. More than 62% of consumers had made a payment on a credit card in the past 90 days, compared with 27% of …

More than half of all consumers across the country are going into debt, borrowing money, or using their savings to cover their expenses right now as a result of higher prices for everything from gas to groceries, according to the results of a survey conducted by the National Retail Federation. …

In yet another sign that consumers are struggling financially, the number one reason why online payments declined in April was because of insufficient funds in their accounts, according to a published report. More than one-quarter of consumer payment declines were due to insufficient funds, compared with 18% in March, according …

The expiration of child tax credits that were put in place to help families during the COVID-19 pandemic is causing more parents and households to make tough choices, including skipping meals, giving up medical insurance and not paying medical bills, and using money saved for rainy days or emergencies to …

More than one-third of people earning more than $250,000 per year say they are living paycheck-to-paycheck, and while most say they are not having any problems covering their monthly expenses, it is yet another sign that inflation is causing problems for everyone, regardless of how much money they make, and …

When presented with the news that they will have to pay a surcharge when making a payment with a credit card, nearly 20% of consumers change their mind and end up using a different method of payment, according to the results of a recently released survey. About 40% of the …

The number of consumers who are living paycheck-to-paycheck, meaning they are not able to put aside any money for savings or emergency funds, is back to pre-pandemic levels, according to a published report, and the financial difficulties are being felt by people on all rungs on the income ladder. About …

All signs might be pointing to a recession on the horizon, but consumers either aren’t getting the memos or they just don’t think it’s going to affect them very much, according to data released yesterday by the Federal Reserve Bank of New York. In fact, more consumers think they are …

The Consumer Financial Protection Bureau yesterday released a report spotlighting the financial challenges facing individuals living in rural communities, representing about 14% of the total population of the United States, are far more likely to conduct their banking in person than they are over the phone or online even though …