THE 2026

CASH POOR REPORT

The True Cost of Living Paycheck to Paycheck

Most Americans are employed, and cash-poor, living paycheck to paycheck regardless of income level. The 2026 Cash Poor Report welcomes a fresh perspective on this consumer with data that is hard to ignore. The report examines the total cost of borrowing, and the options these consumers have to make ends meet. Notably, 1 in 5 cash-poor households earns more than $75,000 a year – a figure that rose from 14% the prior year, confirming that financial vulnerability is increasingly defined not by income, but by a lack of liquidity when it’s needed the most.

The 2026 Cash Poor Report was conducted in partnership with Opinium Research, Morgan State University, the Global Black Economic Forum, the Aspen Institute Financial Security Program, and the Independent Women’s Forum. Concluded by Dr. Katayoon Beshkardana of Morgan State University, the report provides a much-needed understanding of this group of Americans and determines the true total cost of borrowing for cash-poor Americans. Furthermore, the report highlights the significant opportunity costs faced by the 7% of cash poor Americans who could not manage an unexpected cost at all; these individuals were compelled to liquidate assets, borrow from friends and family, or turn to unregulated lenders, including loan sharks and online lending circles.

The study surveyed a U.S. representative sample of 2,000 American adults spanning Gen Z, Millennials, Gen X, Boomers, and the Silent Generation. This year’s report revealed that cash-poor Americans experienced an average of 2.4 unplanned expenses totaling $1,457 over the past 12 months, driven most commonly by medical bills, utility costs, and auto repairs. When it came to covering those expenses, subprime credit cards emerged as the most expensive option for the third year in a row, costing Americans an estimated $17.4 billion in fees annually at an average cost of 51% of principal. This jump represents a rise from 48% the prior year. Cash advance solutions, averaging just 9% of principal borrowed, continued to rank as one of the more affordable options, along with peer-to-peer lending at 17%, and Buy Now Pay Later at 21% – all significantly cheaper than the traditional banking and subprime products dominating the market.