TransUnion's Wave 3 US Consumer Pulse Study Released
We’ve just released the latest TransUnion US Consumer Pulse Study — a quarterly survey exploring how consumers’ personal finances have changed and what changes they expect in the future. Here are the key takeaways:
The economic stimulus package announced
this week may provide short-term relief for
those who have been financially impacted.
Of that group, 43% indicated they plan to
use their stimulus check to cover future
payments. The amount of time before those
impacted will be short for bill payments also
positively increased to an average of 5.9
weeks from 5.4 weeks. Learn more in the
Next Action section of this report.
This week, the impact of the pandemic on Gen
X is an important shift. COVID-19 has now
financially affected 64% of this generation, an
increase of 57% from week one. Within this
group, those who have lost their job increased to
15% from 11% over the first two weeks. Impacted
Gen Xers are worried about paying their credit
card bills (46%) and mortgage (35%), which may
indicate why 46% of this group plan to use their
stimulus check to pay upcoming bills.