A Bankrate survey reveals that one in three Americans have more credit card debt than savings in 2023 and 2024, with Generation X having the highest average credit card debt of $8,134. The average American household owes $7,951 in credit card debt, and credit card balances increased by about $50 billion in the fourth quarter of 2023. Despite a strong job market, Americans are struggling to keep up with credit card payments, with credit card and auto loan delinquencies rising above pre-pandemic levels, signaling increased financial stress, especially among younger and lower-income households.
A Bankrate survey reveals that 30% of Americans believe tipping in the US has become "out of control," with even self-checkout machines now asking for tips. While 41% of respondents think businesses should pay employees better instead of relying heavily on tips, 32% are annoyed by pre-entered tip screens. Tipping frequency has been declining since 2019, with 73% of adults always tipping at sit-down restaurants in 2022 compared to 77% in 2019. Researchers suggest that companies are using tips to shift the responsibility of fair wages onto consumers. However, nearly half of Americans still tip at least 20% at sit-down restaurants. The increase in negative sentiment has led some business owners to reduce suggested tip amounts or remove the option altogether.
A Bankrate survey has found that 66% of Americans view tipping negatively, with tipping turnouts going down in recent years. The survey also found that Gen Z and men tend to tip the least out of anyone, while older demographics and women are more likely to tip. The growing opinion among US adults is that they shouldn't need to pay because employers should simply be paying their employees more rather than relying on customer tips.
Americans are tipping less often than ever, with nearly one in three saying that tipping culture is "out of control," according to a new survey from Bankrate. Two-thirds of respondents said they have at least one negative feeling about tipping, and the percentage of people who always tip waiters, hair stylists, food delivery workers, taxi and rideshare drivers, hotel housekeepers, baristas, and employees when picking up takeout food have all declined since last year. The survey suggests that people would prefer a variety of alternatives to tipping, such as businesses paying better wages so workers don't depend on tips.
