More consumers who live paycheck to paycheck while still paying their bills face unexpected expenses

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In October, 32.5% of consumers who live paycheck to paycheck while still paying their bills had faced an unexpected expense of at least $1,200 in the previous 90 days, up from 27.1% in August. This group’s confidence in managing existing debt over the next 12 months fell from 71.2% in September to 61.1% in October, while Savings Capacity dropped to 54.7. From August to October, the share who accelerated debt repayment or avoided taking on new debt due to concerns about their jobs or income rose from 15.2% to 21.2%.