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.
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2021 Has Been an Expensive Year for SaverLife Members
SaverLife members have increased spending on necessities by as much as 49% since 2019.
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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.
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Grocery Spending for Snap Recipients Remains Elevated
SNAP recipients are spending 21% more on groceries than they were in 2019.
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Restaurant Spending Trends Upward
Restaurant spending was more than 100% higher than at this point in 2020.
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SaverLife Members Are Spending More on Transportation
The median spend on gas and automobile maintenance was nearly 100% higher than in May of 2020.
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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.
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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.
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