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.
Small Budgets + A More Expensive Holiday = A Tough Season for SaverLife Members
More than 80% of SaverLife members said holiday gifts are more expensive this year.
2021 Has Been an Expensive Year for SaverLife Members
SaverLife members have increased spending on necessities by as much as 49% since 2019.
Grocery Spending for Snap Recipients Remains Elevated
SNAP recipients are spending 21% more on groceries than they were in 2019.
Withdrawals of $100+ Were Down 22% in May
This pattern is very similar to what we saw in 2020 when large cash infusions such as tax refunds, tax credits, and economic stimulus payments helped members bridge gaps in employment.
Restaurant Spending Trends Upward
Restaurant spending was more than 100% higher than at this point in 2020.
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.