Should US Consumers Be as Upbeat Over Their Finances as Data Suggests?

In a new report issued by Snap Finance titled “Closing the Credit Gap: 2026 Outlook Study,” a decidedly mixed bag of data points were presented for analysis — not least of which concerned the financial well-being of the U.S. consumer base.

Some top-line results of the study indicate that about two-thirds (66%) of respondents had delayed a purchase or service costing $300+ last year due to their financial situation. Further, that rate soared to an overwhelming majority of 86% for those who held credit scores of 670 and under, and three-quarters (75%) of Gen X respondents writ large answered the same. The most frequently deferred expenditures hinged around auto repairs, medical and dental care, and major appliance repairs.

Amid wider discussions of an emerging K-shaped economy separating the economic haves from the have-nots stateside, the study data reinforced this point, with authors writing, “In 2025, consumers with credit challenges reported significantly higher levels of instability compared to the general population. One in four (25%) of all consumers described their current financial situation as unstable or very unstable — increasing to 41% of those with lower credit scores and 54% of those with household incomes of $50K or less.”

Further data points pulled from Snap Finance study:

• More than four-fifths (83%) of those with a credit score below 670 said they live paycheck to paycheck: Yet, of this group, nearly two-thirds (59%) indicated a belief that they had done a good job in managing their personal finances in 2025 — perhaps signaling macroeconomic problems beyond their control. The same percentage described their debt as “manageable.” A slightly higher cohort of all respondents (62%) also stated that they lived check to check.
• A majority expect finances to improve in 2026: In the all-consumers group, more than half (53%) stated that they expect their financial situation to get better, versus just 12% who anticipate it worsening.
• Concerns persist, however: The primary threats to fiscal health cited by U.S. consumers are persistent inflationary pressure (67%), an unanticipated significant expense (48%), and potential job loss (44%). Gen Xers were most concerned, in general (citing inflation, primarily).

Financing Being Used as a Way To ‘Make Ends Meet’

Per the study authors, Americans continue to use credit vehicles as a method of making ends meet — particularly millennials and those with lower credit scores.

“Those with lower credit scores are the top users of most types of financing, including 53% who use store-specific credit cards and 47% who use pay-in-4 financing. Millennials are also top users of financing, including store credit cards (58%), pay-in-4 (41%), lease-to-own financing (28%), and installment loans (22%),” they wrote, noting that more conventional financing in the form of general-purpose credit cards were preferred by boomers and those with high credit scores.