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     165  0 Kommentare Middle-Income Households Adjust to Higher Prices as Inflation Concerns Return, Santander US Survey Finds

    Santander Holdings USA, Inc. (“Santander US”) today announced findings from a new survey that shows middle-income households are cutting back on spending, taking second jobs, and delaying large purchases—such as cars and homes—to adapt to higher prices as inflationary pressures continue. Nearly three in four middle-income households (72%) reported seeing prices rise in the second quarter, and four in five (78%) said inflation is a major concern. To cope, most middle-income households (90%) have made spending cuts in at least one area, and many plan to curtail spending on a range of items this summer—from vacations to entertainment to summer camps and childcare. Four in 10 said they have taken on a second job or side gig in the last 12 months to help make ends meet.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240624053235/en/

    (Graphic: Business Wire)

    (Graphic: Business Wire)

    By making these trade-offs, many consumers have remained resilient despite higher prices, with eight in 10 middle-income households (77%) staying current on their bills. This helps to explain why the overwhelming majority of middle-income consumers continue to be optimistic about their financial futures, with most (72%) believing they are on the right track toward financial prosperity.

    “While current economic conditions remain challenging, American households are showing great resiliency by taking the necessary actions to navigate through inflationary pain points,” said Tim Wennes, CEO of Santander US. “For many households, this has meant scaling back on spending, including summer activities. We understand consumers often face difficult choices in making these adjustments. At Santander, we are proud to be a resource and offer support to our customers as they make the necessary decisions that will help them achieve their financial goals.”

    Most middle-income Americans (81%) say the high cost of housing is a major financial issue in the United States. Higher housing prices have led to a shifting view on the importance of homeownership, with many appreciating the flexibility of renting. Half of middle-income Americans (51%) believe that homeownership is not a requirement to be financially prosperous, compared to 27% who believe it is. Of those who rent, six in 10 believe having an affordable home, even if renting, is more important to achieving financial prosperity than having equity in a home.

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    Middle-Income Households Adjust to Higher Prices as Inflation Concerns Return, Santander US Survey Finds Santander Holdings USA, Inc. (“Santander US”) today announced findings from a new survey that shows middle-income households are cutting back on spending, taking second jobs, and delaying large purchases—such as cars and homes—to adapt to higher …