With persistent inflation eroding wage gains, more Americans are struggling financially just as the peak shopping season kicks into high gear.
Holiday spending could come at a high cost if it means tacking on additional credit card debt just as interest rates rise.
As of October, 60% of Americans were living paycheck to paycheck, according to a recent LendingClub report. A year ago, the number of adults who felt stretched too thin was closer to 56%.
Not only are day-to-day expenses higher, but inflation has also caused real wages to decline.