Money

NY Times

 

Andrew Lokenauth, TheFinanceNewsletter.com  -   If you're feeling behind, remember: 

 

• The average consumer debt is $23,000 
• Only 9% of Americans earn over $150,000 
• 67% of Americans live paycheck to paycheck 
• 46% of Americans aren't investing for retirement 
• 43% of Americans expect to be in debt over the next 1-5 years 
• 59% of Americans don't have $1,000 saved for an emergency

NPR - Holiday spending exceeded expectations, despite polling that shows Americans have low confidence in the economy. Black Friday and Cyber Monday set records, with Mastercard estimating that spending grew by nearly four percent in November and December. 

"More and more, it's the wealthy that are doing much of the spending," NPR's Alina Selyukh says. Many consumers are switching to more affordable options, such as T.J. Maxx or thrift stores, but luxury brands like Ralph Lauren continue to perform well. Growing wages have fueled much of the country's spending, Selyukh says, and the job market will be a key thing to watch in the year ahead.