Financial Health Dashboard
Through this dashboard we’ll periodically release resources that help paint a picture of our members’ financial health, the challenges they face, and recommendations to improve their financial health outcomes.
2021 Has Been an Expensive Year for SaverLife Members
SaverLife members have increased spending on necessities by as much as 49% since 2019.
Child Tax Credit Update: How Have SaverLife Members Spent Their Child Tax Credit Payments?
Of those who have received a Child Tax Credit payment, the majority say they plan to spend the money on immediate household necessities.
Grocery Spending for Snap Recipients Remains Elevated
SNAP recipients are spending 21% more on groceries than they were in 2019.
Restaurant Spending Trends Upward
Restaurant spending was more than 100% higher than at this point in 2020.
SaverLife Members Are Spending More on Transportation
The median spend on gas and automobile maintenance was nearly 100% higher than in May of 2020.
Credit Card Balances Are Starting to Come Down
SaverLife member credit card balances came down after a few consecutive months of larger than normal payments.
May Savings and Spending
Only 50% of members increased balances in May 2021 as refund and stimulus payments are used to play catch up on everyday expenses.