April Saving & Spending: A Month of Catch Up

Fifty-five percent of SaverLife members saw savings balances decrease in April, the largest since March of 2020 (56%), when the pandemic began. This isn’t surprising coming on the heels of an overwhelmingly positive March, when many members received tax refunds and stimulus payments. This is very typical of months following large cash infusions, where historically we’ve seen members get current on medical debt, credit card debt, and utilities, stocking up on groceries, and smoothing out income shocks.