Americans Are Looking for Financial Breathing Room

Americans may be feeling slightly more confident about the economy, but a new report from J.D. Power shows that many Americans are still under significant financial pressure.

In July, just 34% of consumers were classified as financially healthy, while the majority were financially vulnerable, overextended, or stressed. And those pressures are translating into difficult everyday choices:

• 27% have cut back on groceries or skipped meals.
• 18% have borrowed from family or friends to cover expenses.
• 9% have missed a rent, mortgage, or utility payment.
  

For households under pressure, small financial wins can matter. And financial institutions can help consumers turn information into action.

Financial institutions can help turn knowledge into action

J.D. Power describes consumers as looking for "tangible wins" — manageable steps that can improve their financial footing even when bigger moves are out of reach.

That could mean figuring out which debt to pay down first, improving a credit score, building savings, or simply making a household budget stretch a little further.

Banks can help consumers turn that knowledge into action. They give consumers the tools, information, and guidance to make better decisions about saving, borrowing, spending, and building financial security.

Especially when household finances are strained, giving consumers practical ways to make progress can help them navigate immediate challenges while building greater financial stability over time.