PYMNTS: Age Offers Financial Service Providers Clues to Identifying Customers’ Financial Stress

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PYMNTS Intelligence found in a survey of 2,283 U.S. adults that age helps financial service providers understand customers’ financial stress, but must be considered alongside how customers respond. Among reactive boomers whose savings have declined, 75% attributed the decline to rising everyday costs; among reactive Gen Z, 47% attributed it to income loss. Of Gen X reactive consumers facing housing challenges, 81% cited utility bills.