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.
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.
SaverLife Members Are Paying Off Credit Card Debt in 2021
Credit card payments are way up in 2021. Media payments per month in 2021 are 34% higher on average than they were in 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.
Members Saving More Than $100 Continue to Drop
The percentage of members depositing $100+ is down since April.
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.
