Households earning between $50,000 to $148,000 a year showing signs of strain
by Terry Lane
Investopedia
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Middle-income earners are taking second jobs, cutting back on spending and delaying large purchases to deal with inflation, a new survey shows.
Roughly 78% of respondents to a survey conducted by Santander US said inflation was a major concern with nearly three out of four reporting seeing higher prices in the second quarter.
“While current economic conditions remain challenging, American households are showing great resiliency by taking the necessary actions to navigate through inflationary pain points,” said Santander US CEO Tim Wennes. “For many households, this has meant scaling back on spending, including summer activities.”