Majority of Americans Struggling Financially as Holidays Approach, Study Reveals

A report by LendingClub reveals that 60% of Americans are living paycheck to paycheck as they head into the holiday season. Despite credit card debt surpassing $1 trillion, 96% of shoppers expect to overspend during the holidays, with half planning to take on more debt to cover expenses. Financial stress is prevalent, with 74% of Americans feeling stressed about their finances. Many households have already tapped into their savings, and over one-third plan to dip into them further for holiday spending, leaving them vulnerable to unexpected emergencies.