Consumers’ financial lives have changed: Build hope and trust by lending a helping hand
As customers make plans for 2021, they’re seeking advice from you.
The finances of your customers have changed and for many this alteration may last forever. But these financial shifts likely look very different, depending on the customer.
On the one hand, you have customers saving more money than ever before. The personal savings rate in the US stands above 13%, which remains well beyond historical norms as people began to stash cash at the beginning of the pandemic and haven’t stopped. On the other hand, 64% of customers don’t have enough funds in short-term savings to cover one month’s expenses.
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