The following 112 power financial wellness statistics from 2023 support your company’s decision to add Earned Wage Access (EWA) financial wellness programs to your HR benefits suite.
Estimated Reading Time: 13 minutes
Last year, we published the article, 111 Statistics That Support Earned Wage Access Benefits, our round-up of statistics from 2022.
We received so much positive feedback we compiled this list of 112 statistics from 29 research reports, surveys, and articles published in 2023.
Financial Stress Statistics From 2023
>> 1.) 92% of employees are stressed about their finances. (U.S.-based knowledge workers). (Brightplan 2023 Wellness Barometer Survey)4
>> 2.) 90% – Share of paycheck-to-paycheck consumers with issues paying their bills who cited at least one expenditure that depleted their savings. (PYMNTS The Savings Deep Dive Edition of the Paycheck-to-Paycheck Report)21
>> 3.) 85% of employees have debt, and 48% have more debt than is manageable. (Brightplan 2023 Wellness Barometer Survey)4
>> 4.) 83% of American government and university employees experience financial stress, whether physical, mental, or emotional. (Purchasing Power 2023 State of Public Sector Employee Survey)13
>> 5.) 82% of surveyed 18-34 year olds reported money as a significant stressor. (American Psychological Association 2023 Stress in America Survey, November 2023)17
>> 6.) 77% of consumers earning less than $50,000 annually lived paycheck to paycheck as of November 2023. (PYMNTS Credit Card Use Deep Dive Edition of The Paycheck-To-Paycheck Report)20
>> 7.) 77% of surveyed 25-44 year olds reported money as a significant stressor. (American Psychological Association 2023 Stress in America Survey, November 2023)17
>> 8.) 76% of C-Suite and HR leaders are stressed about their finances. (Brightplan 2023 Wellness Barometer Survey)4
>> 9.) 72% of U.S-based knowledge workers say high financial stress is impacting their mental health. (Brightplan 2023 Wellness Barometer Survey)4
>> 10.) 72% of employees passed up opportunities to spend time with family, friends, and co-workers because they couldn’t afford to do so. (Brightplan 2023 Wellness Barometer Survey)4
>> 11.) 68% of single adult households state money is a significant source of stress. (American Psychological Association 2023 Stress in America Survey, November 2023)17
>> 12.) 67% of employees agree that the cost of living is outpacing growth in their salary/wages, an increase from 58% from Feb 2022. (Bank of America 2023 Workplace Benefits Report)5
>> 13.) 66% of parents report feeling consumed by worries regarding money. (American Psychological Association 2023 Stress in America Survey, November 2023)17
>> 14.) 65% – Share of consumers struggling to pay bills who reached their credit limit at least occasionally over the last year. (PYMNTS Credit Card Use Deep Dive Edition of The Paycheck-To-Paycheck Report)20
>> 15.) 64% of respondents say financial stress has worsened their relationships with friends and family. (Brightplan 2023 Wellness Barometer Survey)4
>> 16.) 64% of adults could cover a $400 emergency expense using cash or its equivalent (down from 68% in 2022). (Federal Reserve Report on the Economic Well-Being of U.S. Households, Last Update May 2023).23
>> 17.) 63% of surveyed 45-64 year olds reported money as a significant stressor. (American Psychological Association 2023 Stress in America Survey, November 2023)17
>> 18.) 62% of consumers lived paycheck to paycheck as of November 2023. (PYMNTS Credit Card Use Deep Dive Edition of The Paycheck-To-Paycheck Report)20
>> 19.) 60% of respondents say financial stress impacts their physical health. (Brightplan 2023 Wellness Barometer Survey)4
>> 20.) 60% of full-time employees are stressed about their finances. This is slightly higher even than the number who were stressed about finances during the height of the pandemic. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 21.) 61% – Share of consumers who lived paycheck to paycheck as of June 2023. (PYMNTS & Lending Club Paycheck-to-Paycheck Report)19
>> 22.) 60% of Americans say they’re behind where they should be when it comes to emergency savings. This is composed of 38 percent who say they’re significantly behind and 22 percent who say they’re slightly behind. (Bankrate Survey, October 2023)7
>> 23.) 58% of parents report money is a cause of a lot of fights or tension in their family. (American Psychological Association 2023 Stress in America Survey, November 2023)17
>> 24.) 57% of households that haven’t increased emergency savings this year cite inflation as the reason. (Bankrate Survey, October 2023)7
>> 25.) 57% of parents agree they feel embarrassed talking about money/their financial situation with others. (American Psychological Association 2023 Stress in America Survey, November 2023)17
>> 26.) 56% of employees identify as caregivers (employers believe 35% of their workforce are caregivers. (Bank of America 2023 Workplace Benefits Report)5
>> 27.) Just 56% of employees say they feel open and comfortable talking about their financial situation with others. (Brightplan 2023 Wellness Barometer Survey)4
>> 28.) In the past year, financial stress and money worries have had a negative impact on: (56%) sleep, (55%) mental health, (50%) self-esteem, (44%) physical health, and (40%) relationships at home. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 29.) 53% of employees say they are most worried about their expenses increasing/everything costing more. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 30.) 52% of Generation Z (aged 18 – 26) say they could cover a $200 to $600 emergency expense in cash (down from 66% at the start of the year). (Investopedia Article, November 2023)12
>> 31.) 49% – Share of consumers who say their finances are particularly tight at specific times of the year. (PYMNTS The Seasonal Financial Distress Deep Dive Edition of The Paycheck-To-Paycheck Report, 2023)22
>> 32.) 49% find it difficult to meet household expenses on time each month (up from 41% last year). (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 33.) 47% of employees earning $100,000 or more per year are stressed about their finances. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 34.) 44% – Share of U.S. consumers earning more than $100,000 per year living paycheck to paycheck as of September 2023. (PYMNTS The Savings Deep Dive Edition of the Paycheck-to-Paycheck Report)21
>> 35.) 39% of employees in the retail sector are most likely to report always or often running out of money between paychecks, compared to 22% in manufacturing and 24% in the tech sector. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 36.) 32% of households have less emergency savings now than at the start of the year. (Bankrate Survey, October 2023)7
>> 37.) 31% – Share of consumers who cited emergency spending as the reason they depleted their savings, while 20% cited job losses or income reductions. (PYMNTS The Savings Deep Dive Edition of the Paycheck-to-Paycheck Report)21
>> 38.) 28% of full-time employees often or always run out of money between paychecks. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 39.) 23% of responding employees are delaying retirement. (Brightplan 2023 Wellness Barometer Survey)4
>> 40.) 17% – The share of Financially Vulnerable Americans (up from 15% in 2022). (Financial Health Network Financial Health Pulse 2023 U.S. Trends Report, September 13, 2023)9
>> 41.) 15% of full-time employees who earn $100,000 or more per year always or often run out of money between paychecks. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
Financial Wellness Statistics From 2023
>> 42.) 96% of employers feel somewhat or extremely responsible for their employees’ financial wellness, yet just 2 out of 5 offer financial wellness programs. (Bank of America 2023 Workplace Benefits Report)5
>> 43.) 92% of leaders believe employers should support employees with their financial health. (Brightplan 2023 Wellness Barometer Survey)4
>> 44.) 89% of leaders state that employers should support employees in managing their money on a day-to-day basis. (Brightplan 2023 Wellness Barometer Survey)4
>> 45.) 74% of employees are not satisfied with their company’s financial benefits. (Brightplan 2023 Wellness Barometer Survey)4
>> 46.) 68% of employees said they used financial wellness services provided by their employees (versus just 51% in 2012) (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 47.) 64% of adults said they would cover a hypothetical $400 emergency expense exclusively using cash or its equivalent, down from a high of 68% in 2021. (Federal Reserve Report on the Economic Well-Being of U.S. Households in 2022, May 2023)23
>> 48.) Only 52% of those with incomes of $100,000 or more feel financially healthy. (Financial Health Network 2023 U.S. Trends Report, September 2023)9
>> 49.) 49% of respondents stated they were spending less than their income. (Financial Health Network 2023 U.S. Trends Report, September 2023)9
>> 50.) 47% of unbanked households were Financially Vulnerable. (Financial Health Network 2023 U.S. Trends Report, September 2023)9
>> 51.) 42% of employees rate their financial wellness as good or excellent, the lowest since 2010. (Bank of America 2023 Workplace Benefits Report)5
>> 52.) Only 39% of respondents stated they were confident they are on track to meet long-term financial goals. (Financial Health Network 2023 U.S. Trends Report, September 2023)9
>> 53.) 38% of women feel financially well in 2023, a decrease from 2022 and a five-year low. (Bank of America 2023 Workplace Benefits Report)5
>> 54.) 35% – The share of adults who said they were worse off financially than a year earlier (the highest level since 2014). (Federal Reserve Report on the Economic Well-Being of U.S. Households in 2022, May 2023)23
>> 55.) 35% of employees have no emergency savings or only enough for up to 2 months. (Brightplan 2023 Wellness Barometer Survey)4
>> 56.) 35% of U.S.-based knowledge workers have no emergency savings. (Brightplan 2023 Wellness Barometer Survey)4
>> 57.) 31% of non-retirees thought their retirement savings plan was on track, down from 40% in 2021. (Federal Reserve Report on the Economic Well-Being of U.S. Households in 2022, May 2023)23
>> 58.) 31% of employees are looking to their employers for financial wellness benefits. (Brightplan 2023 Wellness Barometer Survey)4
>> 59.) 18% of U.S.-based knowledge workers have basic financial literacy. (Brightplan 2023 Wellness Barometer Survey)4
>> 60.) The U.S. financial wellness benefits market was valued at USD 618.19 million in 2022 and is expected to reach USD 1.89 billion by 2028, growing at a CAGR of 20.49%. (Arizton Report, 2023)29
>> 61.) The U.S. financial wellness market by delivery is segmented into online, one-on-one, and group. The one-to-one segment accounted for the highest share of almost 48% in 2022. (Arizton Report, 2023)29
Employee Pay and Earnings Statistics From 2023
>> 62.) 95% of respondents say they receive their pay via direct deposit. (PayrollOrg’s National Payroll Week Survey Results, 2023)2
>> 63.) More than 80% of CHRO and human capital leaders were concerned about wage growth not keeping up with inflation and declining consumer purchasing power. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 64.) 78% of Americans would experience financial difficulty if their paycheck were delayed a week (a 6% increase from the 2022 survey). (PR Newswire PayrollOrg Press Release, September 2023)26
>> 65.) 59% of full-time employees report that their compensation isn’t keeping up with the rising cost of living expenses. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 66.) 44% of North American workers say they are always, often, or sometimes underpaid. (ADP Research Institute People at Work 2023: A Global Workforce View, April 2023)24
>> 67.) 43% of current employees are paid bi-weekly, 27% are paid weekly, 20% are paid semimonthly, and 10% are paid monthly. (U.S. Bureau of Labor Statistics Current Employment Statistics – CES (National), Feb 2023)11
>> 68.) US companies raised their budgets for employee salary increases by an average of 4.4 percent in 2023. That’s the highest year-over-year growth since 2001. (The Conference Boards’ Report: US Salary Increase Budgets 2023-2024, October, 2023)25
Earned Wage Access Statistics From 2023
>> 69.) 80% of EWA advance amounts are between $40 and $100. (California Department of Financial Protection and Innovation 2021 Earned Wage Access Data Findings, Q1, 2023)1
>> 70.) 79% of users said they typically pay a fee to receive funds faster. (Center for Responsible Lending Survey Summary of Earned Wage Advance and Cash Advance Apps, August 2023)27
>> 71.) 69% of users reported using their EWA advance on food, 51% on a bill or utility payment, 26% on unanticipated emergency expenses, 21% on medical expenses, 18% on childcare expenses, 1% on gifts, 8% on travel or vacation, and 1% on other. (Center for Responsible Lending Survey Summary of Earned Wage Advance and Cash Advance Apps, August 2023)27
>> 72.) 67% of complaints and inquiries from those who used EWA services were during the transaction point of receiving and repaying funds. (California Department of Financial Protection and Innovation 2021 Earned Wage Access Data Findings, Q1, 2023)1
>> 73.) 63% of users reported $100 or less as the most common EWA advance amount. (Center for Responsible Lending Survey Summary of Earned Wage Advance and Cash Advance Apps, August 2023)27
>> 74.) With EWA that rely on tipping, 62% of those surveyed leave tips. Tips can range from $0.49 to $14.99, with respondents earning less than $50,000 typically tipping $1 to $3 for advances of less than $100. (Center for Responsible Lending Survey Summary of Earned Wage Advance and Cash Advance Apps, August 2023)27
>> 75.) 59% of employees currently receive earned wage access to their pay via a program offered by their employer. (PayrollOrg’s National Payroll Week Survey Results, 2023)2
>> 76.) 34% of respondents indicated they want earlier access to their wages (an increase of 13% from 2022). (PR Newswire PayrollOrg Press Release, September 2023)26
>> 77.) 28% of respondents indicated they were using alternative financial services less than before using EWA. (Harvard Kennedy School Working Paper Series – Earned Wage Access: An Innovation in Financial Inclusion? June 2023)15
>> 78.) 34% of complaints and inquiries concerned settlement issues, including claims that a consumer was overcharged for repayment or the payment amount exceeded the advance amount. (California Department of Financial Protection and Innovation 2021 Earned Wage Access Data Findings, Q1, 2023)1
>> 79.) 6% – 50% was the EWA transfer amount as a percentage of the paycheck. (California Department of Financial Protection and Innovation 2021 Earned Wage Access Data Findings, Q1, 2023)1
>> 80.) Most respondents accessed wages early one to two times a week in a typical month. (Center for Responsible Lending Survey Summary of Earned Wage Advance and Cash Advance Apps, August 2023)27
>> 81.) EWA expediting fees ranged from $0.99 – $13.99 depending on the speed of the transaction (Center for Responsible Lending Survey Summary of Earned Wage Advance and Cash Advance Apps, August 2023)27
Payday Loans, Credit, Money Borrowing Apps, Interest, and Fees Statistics From 2023
>> 82.) 57% – Share of credit cards in the U.S. that are held by paycheck-to-paycheck consumers. (PYMNTS Credit Card Use Deep Dive Edition of The Paycheck-To-Paycheck Report)20
>> 83.) 47% of consumers borrow money from other household members, like parents or siblings, to make ends meet. (PYMNTS & Lending Club Paycheck-to-Paycheck Report)19
>> 84.) 44% of employees carrying credit card balances say they struggle to make minimum payments on time each month (up from 37% last year). (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 85.) 41.5% of consumers applied for credit in 2023. Of the consumers who applied for credit, 36.6% were turned down or did not get as much credit as they applied for. An additional 23.8% decided not to apply because they worried they would be turned down. (Consumer Financial Protection Bureau, Making Ends Meet in 2023 Survey, December 2023)16
>> 86.) Bankcard balances increased 15% year-over-year (YoY) to set a new record at $995 billion at the end of Q3 2023, up from $866 billion one year prior. (TransUnion Credit Industry Insights Report, Q3, 2023)10
>> 87.) Bankcard balances reached a new record in Q4 2023, surpassing the $1 Trillion mark for the first time on the back of 13% growth year-over-year (YoY). (TransUnion Credit Industry Insights Report, Q4, 2023)10
>> 88.) $7,200 is the average credit card balance of consumers who live with children under 18 years old. (PYMNTS & Lending Club Paycheck-to-Paycheck Report)19
>> 89.) $5,733 is the average credit card balance per consumer. (TransUnion Credit Industry Insights Report, Q4, 2023)10
>> 90.) Fees vary widely amongst the [money borrowing] apps, with the cost to borrow $100 ranging from $6.00 to $34.99. (Outlook India, 2023)6
>> 91.) The study, conducted by the website Overdraft Apps, shows that the cost of using the most popular money-borrowing apps now averages $19.08, a 24% jump in costs since the site benchmarked costs in April of this year. (Outlook India, 2023)6
>> 92.) If the fees are considered the cost of borrowing, the annual percentage rate for borrowing from many cash advance apps quickly reaches three figures. For example, the $19.08 average cost of borrowing $100 from the Overdraft Apps study would equate to a 696.42% annual percentage rate (APR) if everything is repaid after ten days. (Outlook India, 2023)6
>> 93.) $4.73 is the average fee for an out-of-network ATM (beating the previous high of $4.72 in 2019. (Bankrate ATM, Overdraft, and NSF Fees Survey, August 2023)8
>> 94.) $26.61 is the average overdraft fee (overdraft fees are still charged by 91% of accounts that Bankrate surveyed – and they can run as high as $38). (Bankrate ATM, Overdraft, and NSF Fees Survey, August 2023)8
>> 95.) Most money-borrowing apps can send funds to your bank account or a debit card tied to the app in just a few minutes, charging a $3.99 – $11.99 optional fee on a $100 advance for the convenience of instant access. (Outlook India, 2023)6
>> 96.) Some money-borrowing apps require a monthly subscription to use cash advance features, with rates ranging from $1 to $19.99 per month. (Outlook India, 2023)6
>> 97.) Tips: About half of the money-borrowing apps ask users to leave an optional tip when they request a cash advance. 15% is often the recommended or pre-selected amount. (Outlook India, 2023)6
Recruiting, Retention, Engagement & Productivity Statistics From 2023
>> 98.) 89% of leaders believe employees’ financial stress hurts engagement and productivity at their company. (Brightplan 2023 Wellness Barometer Survey)4
>> 99.) 80% of survey respondents said their key issue influencing benefits strategy was competition for talent. (WTW 2023 Benefits Trends Survey Highlights Infographic)14
>> 100.) 75% of US employers report difficulty filling open roles. (ManpowerGroup 2023 Global Talent Shortage Infographic)3
>> 101.) 74% of employees seek financial guidance when dealing with financial decisions, crises, or life events. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 102.) 73% of financially stressed employees say they would be attracted to another employer that cares more about their financial well-being (compared to just 54% of non-financially stressed employees. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 103.) 56% of employees who are stressed about their finances and admit to being distracted at work because of their finances spend three hours or more per week at work dealing with or thinking about issues related to their personal finances. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 104.) 53% of financially stressed employees are looking for a new job (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 105.) 51% of organizations reported having difficulty with attraction or retention. (WTW Salary Budget Planning Survey, June 2023)14
>> 106.) 44% of employees who are stressed about their finances admit personal finance issues have been a distraction at work. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 107.) 42% of employers are looking to improve their financial well-being/short-term finances benefits positions (WTW 2023 Benefits Trends Survey Highlights Infographic)14
>> 108.) 33% of full-time employees say money worries have negatively impacted their productivity at work. (PwC’s 2023 Employee Financial Wellness Survey, January 2023)18
>> 109.) 8.1 hours – the average productivity lost per week per respondent due to financial stress. (Brightplan 2023 Wellness Barometer Survey)4
>> 110.) $200 billion – lost annually for US businesses due to financial stress. (Brightplan 2023 Wellness Barometer Survey)4
>> 111.) 16.8 hours of productivity were reported lost by C-Suite leaders due to financial stress. (Brightplan 2023 Wellness Barometer Survey)4
>> 112.) 12.4 hours of productivity reported lost by HR leaders due to financial stress. (Brightplan 2023 Wellness Barometer Survey)4
Want more financial wellness stats? Check out our blog from 2022, 111 Statistics That Support Earned Wage Access Benefits.
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Sources
1 2021 Earned Wage Access data findings: Analysis completed Q1 2023. (2023, March). California Department of Financial Protection and Innovation. https://dfpi.ca.gov/wp-content/uploads/sites/337/2023/03/2021-Earned-Wage-Access-Data-Findings-Cited-in-ISOR.pdf
2 2023 “Getting Paid in America” survey. (2023). PayrollOrg. https://info.payroll.org/pdfs/npw/2023_Getting_Paid_In_America_survey_results.pdf
3 2023 Global talent shortage. (2023). Manpower Group. https://go.manpowergroup.com/hubfs/MPG_TS_2023_Infographic_FINAL.pdf
4 2023 Wellness Barometer Survey: Financial stress is hurting relationships, well-being & organizational success. (2023). BrightPlan. https://www.brightplan.com/2023-wellness-barometer-survey
5 2023 Workplace Benefits Report: The Transforming Workplace. (2023). In Bank of America Merrill Lynch. Bank of America Retirement Research & Insights. https://business.bofa.com/content/dam/flagship/workplace-benefits/ID22-0888/2023-WBR.pdf
6 As users flock to cash advance apps, fees jump higher. (2023, November 9). Outlook India. https://www.outlookindia.com/business-spotlight/as-users-flock-to-cash-advance-apps-fees-jump-higher-news-329713
7 Bennett, K. (2023, October 25). Survey: 81% of Americans didn’t increase their emergency savings this year as majority feels behind. Bankrate. https://www.bankrate.com/banking/savings/emergency-savings-survey/
8 Bennett, K. (2023, August 30). Survey: ATM fees hit record high while overdraft and NSF fees fell sharply. Bankrate. https://www.bankrate.com/banking/checking/checking-account-survey/
9 Cepa, K., Chege, Celik, N., Warren, A., & Patil, R. (2023, September 13). Financial Health Pulse® 2023 U.S. Trends Report: Rising financial vulnerability in America. Financial Health Network. https://finhealthnetwork.org/research/financial-health-pulse-2023-u-s-trends-report/
10 Credit balances on the rise as consumers manage higher costs: Q3 2023 TransUnion Credit Industry Insights Report explores the latest credit trends. (2023, November 11). TransUnion. https://newsroom.transunion.com/q3-2023-ciir/
11 Current Employment Statistics – CES (National): Length of pay periods in the current Employment Statistics survey. (2023, February). U.S. Bureau of Labor Statistics. https://www.bls.gov/ces/publications/length-pay-period.htm
12 Hyatt, D. (2023, November 6). Young adults are running out of cash to pay emergency expenses. Investopedia. https://www.investopedia.com/young-adults-are-running-out-of-cash-to-pay-emergency-expenses-8391317
13 Infographic Data for 2023 Public Sector Survey. (2023). Purchasing Power. https://images.purchasingpower.com/merch/b2b-pdfs/2023-Public-Sector-Finwell-Survey-Infographics.pdf
14 Infographic: U.S. employers look to enhance benefits to attract and retain talent. (2023, July 7). WTW. https://www.wtwco.com/en-us/insights/2023/07/infographic-us-employers-look-to-enhance-benefits-to-attract-and-retain-talent
15 Lux, M., & Chung, C. (2023, June). Earned wage access: an innovation in financial inclusion?: M-RCBG Associate Working Paper Series | No. 214. Harvard Kennedy School. https://www.hks.harvard.edu/sites/default/files/centers/mrcbg/214_AWP_final_2.pdf
16 Making ends meet in 2023: Insights from the Making Ends Meet survey. (2023, December). Consumer Financial Protection Bureau. https://files.consumerfinance.gov/f/documents/cfpb_making-ends-meet-in-2023_report_2023-12.pdf
17 Managing your stress in tough economic times. (2023, November 3). https://www.apa.org. American Psychological Association. https://www.apa.org/topics/money/economic-stress
18 PricewaterhouseCoopers. (2023). PWC’s 2023 Employee Financial Wellness survey. PwC. https://www.pwc.com/us/en/services/consulting/business-transformation/library/employee-financial-wellness-survey.html
19 PYMNTS & Lending Club. (2023). New reality check: the Paycheck-To-Paycheck Report. In PYMNTS.com. https://www.pymnts.com/study/reality-check-paycheck-to-paycheck-consumer-planning-financial-emergency/
20 PYMNTS & Lending Club. (2023). New reality check: the Paycheck-To-Paycheck Report: The Credit Card Use Deep Dive Edition. In PYMNTS.com. https://www.pymnts.com/study/reality-check-paycheck-to-paycheck-revolving-debt-financing-credit-scores/
21 PYMNTS & Lending Club. (2023). New reality check: the Paycheck-To-Paycheck Report: The Savings Deep Dive Edition. In PYMNTS.com. https://www.pymnts.com/study/reality-check-paycheck-to-paycheck-consumer-savings-debt-investment/
22 PYMNTS & Lending Club. (2023). New reality check: the Paycheck-To-Paycheck Report: The Seasonal Financial Distress Dive Edition. In PYMNTS.com. https://www.pymnts.com/study/reality-check-paycheck-to-paycheck-seasonal-consumer-spending-financial-stress/
23 Report on the Economic Well-Being of U.S. Households in 2022 – May 2023. (2023, May). Board of Governors of the Federal Reserve System. https://www.federalreserve.gov/publications/2023-economic-well-being-of-us-households-in-2022-executive-summary.htm
24 Richardson, N., Ph. D., & Antonello, M. (2023). People at Work 2023: A Global Workforce View. In adpri.org. ADP Research Institute. https://www.adpri.org/wp-content/uploads/2023/04/PaW_Global_2023_GLB_Final.pdf
25 SURVEY: 2023 US Salary increase Budgets Reach 22-Year High. (2023, October 17). The Conference Board. https://www.conference-board.org/press/US-salary-increase-budgets-2023
26 Survey Reveals Six Percent Increase in Americans Living Paycheck to Paycheck in Just One Year. (2023, September 15). PR Newswire. https://www.prnewswire.com/news-releases/survey-reveals-six-percent-increase-in-americans-living-paycheck-to-paycheck-in-just-one-year-301928853.html
27 Survey Summary of Earned Wage advance and cash advance apps. (2023, August). Center for Responsible Lending. https://www.responsiblelending.org/sites/default/files/nodes/files/research-publication/crl-ewa-research-factsheet-aug2023.pdf
28 The Fed – Report on the Economic Well-Being of U.S. Households in 2022 – May 2023. (2023, May 22). Board of Governors of the Federal Reserve System. https://www.federalreserve.gov/consumerscommunities/sheddataviz/unexpectedexpenses.html
29 U.S. Financial Wellness Benefits Market – Industry Outlook & Forecast 2023-2028. (2023, July). Arizton Advisory & Intelligence. https://www.arizton.com/market-reports/us-financial-wellness-benefits-market
Keep exploring and learning >>>>> 22 Urgent Questions To Help You Select The Best EWA Benefit Provider