The number of Americans who say they are stretched thin has remained stubbornly high as inflation weighs on worker paychecks.
Since wage growth hasn't been able to keep up, households are having a harder time making ends meet.
"The data underscores the pervasive nature of financial challenges affecting a majority of consumers," said Alia Dudum, LendingClub's money expert."The problem is that there is more month at the end of the money."said the central bank would like to see more progress in its fight against inflation, leaving open the possibility ofCentral bank officials have already raised rates 11 times, pushing the Fed's key interest rate to a target range of 5.25% to 5.
Four out of five consumers' spending habits have been affected by inflation, according to TD Bank's annualSoaring housing, food and child-care costs are putting pressure on household budgets on top of paying higher interest rates on credit card debt and auto loan payments, said
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