60% of Americans live paycheck to paycheck — 'inflation is part of their everyday lives,' expert says
Publishing timestamp: 2023-02-28 12:37:02
Summary
A recent report from LendingClub found that the number of Americans living paycheck to paycheck fell to 60% in January. Anuj Nayar, LendingClub's financial health officer, suggests that consumers are making behavior changes to adjust their spending and manage their cash flow. To make ends meet, more Americans are leaning on credit cards, and Ted Jenkin, CEO and founder of oXYGen Financial, suggests meal planning, disabling one-click ordering, and using cash-back cards to save money. He also recommends buying short-term Treasury bonds and federal I bonds to hedge against inflation.
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Keywords: united states, personal finance, business news, investment strategy, u.s. economy, federal reserve system, lendingclub corp, economic events, personal loans, personnel, social issues, personal saving, retirement planning, wages and salaries, inflation,