Depleted Savings Weigh on Consumer Spending Outlook

Savings are becoming a dividing line in household finances, separating consumers who can absorb an expensive surprise from those pushed into financial difficulty by it. The PYMNTS Intelligence report “ Household Finances Flash a Warning Behind Stable Consumer Confidence ” found in August that 19l% of households said their financial lifestyle had deteriorated during the previous year, while 7.1% reported an improvement. Savings help explain who ended up on either side of that divide.