Latest news with #PYMNTSIntelligence
Yahoo
a day ago
- Business
- Yahoo
Why earning six figures doesn't always mean you're wealthy
It's easy to think that once you crack six figures, you're in the clear financially. But that assumption doesn't always hold up. One-third of Americans earning over $200,000 a year say they're still living paycheck-to-paycheck, according to a 2024 report by PYMNTS Intelligence. Turns out wealth isn't just about how much you earn, it's about how you think and what you do with it. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Here are the top five ways wealthy people approach life, career and finances differently from the rest of us. Contrary to popular belief, most multimillionaires are not cruising around in neon orange Lamborghinis or smoking cigars stashed in their Gucci bags. Instead, many wealthy Americans are trying to hide their wealth rather than flaunt it. The 'stealth wealth' or 'quiet luxury' trend was highlighted in the 2024 National Millionaires Survey by Ramsey Solutions, which found that the top three car brands preferred by the wealthy were Toyota, Honda and Ford. Simply put: wealthy Americans stay wealthy by resisting the urge to flaunt it. Another major psychological difference between the rich and the poor is their ability to delay gratification. In 2016, the National Bureau of Economic Research surveyed Americans over the age of 70 to see how much extra they'd need to wait a year for $100. Would they need $10 or $30? Those who required less compensation had greater patience and were better at delaying gratification, which was closely linked with their actual wealth and financial well-being. In short, the ability to resist instant gratification is a key sign of future financial success. Because they're better at delaying gratification, wealthier Americans are more likely to invest their money rather than spend it. A 2024 Gallup poll found that 31% of upper-income Americans believe stocks are the best investment. Only 7% said a savings account was a good investment. In contrast, 20% of lower-income Americans chose savings accounts as the best investment, while just 14% preferred stocks. This difference in strategy highlights a key mindset shift. Many lower-income households avoid risk and prefer safety, while wealthier households are more familiar with the potential rewards of riskier assets. Read more: No millions? No problem. With as little as $10, here's of diversified assets usually only available to major players Debt isn't good or bad — it's all about how it's used. Lower-income households are more likely to rely on expensive forms of debt to cover daily spending. About 18% of households earning between $25,000 and $49,999 used buy-now-pay-later programs in 2023, compared to just 10% for those earning more than $100,000, according to the Federal Reserve. Wealthier Americans tend to use debt for productive investments, such as real estate or business ventures. These assets have the potential to grow in value, while consumer goods like cars or electronics lose value over time. Rethinking how you use debt could be a game-changer on your path to building wealth. In a constantly shifting economy, wealthier individuals know the key to preserving and growing wealth is to keep learning new skills and adapting to unexpected changes. Whether it's signing up for professional courses, attending workshops and expanding your horizons, could give your career the boost it needs to step up wealth creation. This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
2 days ago
- Business
- Miami Herald
Dollar Tree's new customers spell bad news for all of us
Dollar Tree is known for its low prices, although, of course, most items at Dollar Tree no longer actually cost $1. In fact, most items at Dollar Tree are now $1.25, with the store also adding even more expensive offerings in recent years. Some of the things for sale now cost $3 or $5, which is a significant increase compared to its prior flat $1 rate. Although Dollar Tree has raised its prices and angered some customers in the process, it's still been doing fairly well. The company reported strong first-quarter results, with net sales up year-over-year as more people came into the stores and spent more per ticket. Don't miss the move: Subscribe to TheStreet's free daily newsletter Dollar Tree opened a total of 148 new stores, according to its first quarter earnings report. The company also saw its gross profit increase by 11.7% to $1.6 billion and its gross margin expand 20 basis points to 35.6%. While Dollar Tree is doing well, there are some troubling red flags in the company's earnings report that could point to trouble in the economy as a whole. In fact, here's why Dollar Tree's growth with one particular customer base could actually be bad news for Americans overall as we move into the second half of 2025. Image source: China News Service/VCG via Getty Images When you think of Dollar Tree customers, most people don't necessarily think of the country's highest earners crowding the discount store's aisles in search of low-cost food, beauty, or household items. Recent data suggests that's exactly what's happening, however. In fact, PYMNTS Intelligence data has demonstrated that while households earning $100K or more each year still spend a lot of money at Walmart, Target, and other big-box stores, people within this demographic group are also making more purchases at both Dollar Tree and similar stores like Dollar General. Related: Costco has a massive labor problem nobody is talking about PYMNTS Intelligence data also indicates around one in every four Dollar Tree transactions involved shoppers with household incomes exceeding $100K - and the same percentage of transactions at Dollar General also came from this group. This rise in wealthy shoppers is a phenomenon Dollar Tree CEO Michael Creedon noted during a recent conference call with analysts, citing a "meaningful traffic increase from customers with household incomes of more than $100,000." Dollar General CEO Todd Vasos also called out this trend, indicating that "while our core customer remains financially constrained, we have seen increased trade-in activity from both middle- and higher-income customers." Although it might be nice to believe that the country's top earners simply decided that Dollar Tree's deals were too good to pass up, the more likely explanation for their new-found frugality is that people in households with incomes above $100K are facing financial struggles that have forced them to seek out cheaper places to shop. This explanation is supported by additional data from PYMNTS that found around half of consumers with incomes of $100K or more are living paycheck to paycheck right now. Related: Costco's latest price change shocks members Years of record-high inflation during the Covid pandemic, combined with continued high interest rates and ongoing economic uncertainty in light of tariff-related volatility, have likely impacted higher-income households along with lower-income ones. More Retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers If the cumulative effect of these financial hits is causing the country's highest earners to visit Dollar Stores in ever-increasing numbers, what does this mean for the 80% or so of households that make far less than $100K? It's certainly not a good sign of the economic stability of the country as a whole. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Gulf Insider
7 days ago
- Business
- Gulf Insider
UAE Leads World in Mobile Shopping in 2025
The UAE has emerged as the top mobile shopping market globally, according to the newly released 2025 Global Digital Shopping Index – UAE edition, commissioned by Visa Acceptance Solutions and conducted by PYMNTS Intelligence. Based on a survey of 1,679 consumers and 329 merchants across the country, the report found that 67 per cent of UAE consumers used a mobile phone as part of their most recent retail purchase — a 23 per cent increase since 2022. The data confirms the UAE's position as a global leader in mobile-first digital commerce. With 37 per cent of all online purchases in the United Arab Emirates made via mobile devices, the country ranks ahead of Singapore (34.8 per cent), the UK (27.6 per cent), and Brazil (24.4 per cent). The index also highlights the UAE's strong embrace of biometric authentication, with 32 per cent of shoppers using fingerprint or facial recognition to complete their latest online retail transaction — nearly double the global average of 17 per cent. Salima Gutieva, Visa's Vice President and Country Manager for United Arab Emirates, said: 'The UAE's approach shows what is possible when all stakeholders work together to build the future of commerce. 'Visa is delighted to contribute to the UAE government's digital commerce agenda, and we remain committed to working with local businesses and banks to introduce innovations such as Visa's Click to Pay that can deliver the digital payment experiences that today's consumers demand.' The report also notes that 53 per cent of consumers in the United Arab Emirates prefer cross-channel shopping, combining in-store, mobile, and online experiences — the second-highest rate in the world. Additionally, 38 per cent of shoppers opted for home delivery through mobile or desktop during their last retail purchase. Consumer preferences continue to shape the UAE's digital economy. The report shows: 75 per cent of shoppers value rewards programmes 73 per cent expect free shipping 70 per cent want price-matching offers Millennials lead mobile adoption with 73 per cent using phones to shop, followed closely by Generation Z and Generation X. Baby boomers and seniors show significantly lower mobile engagement, with only 18 per cent using a mobile device for their last read:
Hi Dubai
7 days ago
- Business
- Hi Dubai
UAE Leads the World in Mobile Shopping Adoption: Visa
The UAE has become the global leader in mobile shopping, outpacing advanced markets like Singapore and the UK, according to the 2025 Global Digital Shopping Index released by Visa Acceptance Solutions and PYMNTS Intelligence. The report, based on a survey of 1,679 consumers and 329 merchants, found that 67% of UAE consumers used their phones during their most recent retail purchase—a 23% jump since 2022. With 37% of transactions completed fully on mobile, the UAE tops the world in mobile-driven shopping experiences. Consumer preferences continue to shift toward convenience and innovation. Thirty-two percent used biometric authentication such as fingerprint or facial recognition, nearly double the global average. Cross-channel shopping is also on the rise, with over half of UAE shoppers blending physical and digital retail touchpoints. Local consumers also ranked among the highest globally in valuing loyalty rewards (75%), free shipping (73%), and price matching (70%). Notably, 38% opted for home delivery via mobile or desktop for their most recent retail purchase. Millennials lead the mobile-first movement at 73%, while Gen Z and Gen X follow closely. Older generations lag behind, with only 18% of baby boomers and seniors using mobile devices for their latest purchase. Visa's UAE Country Manager Salima Gutieva credited the strong collaboration between merchants, regulators, and tech providers for driving innovation. 'The UAE's approach shows what is possible when all stakeholders work together to build the future of commerce,' she said. These findings reflect the UAE's push to remain at the forefront of digital transformation, creating a seamless, secure, and tech-forward retail ecosystem. News Source: Emirates News Agency
Time of India
7 days ago
- Business
- Time of India
UAE leads the world in mobile shopping usage, global survey reveals
The UAE has been ranked first globally for mobile shopping usage, with 67% of consumers using their smartphones for their most recent purchase whether online or in-store, according to the 2025 Global Digital Shopping Index. Tired of too many ads? go ad free now The report places the UAE ahead of other tech-savvy markets like Saudi Arabia (66%) and Singapore (65%), cementing its position as a leader in digital retail engagement. Mobile Shopping Surges Across the UAE Smartphone usage for retail purchases in the UAE has grown by 23% since 2022, driven by demand for convenience, security, and seamless omnichannel experiences. The UAE also leads in online purchases via mobile devices at 37%, according to the survey, which was commissioned by Visa Acceptance Solutions and conducted by PYMNTS Intelligence. The study gathered insights from 1,679 consumers and 329 merchants between October 17 and December 9, 2024, across eight global markets. In-Store Shoppers Also Go Mobile While mobile is dominant online, it's also transforming the in-store shopping experience: 73% of UAE consumers use their phones in-store to compare prices, search for coupons, or collect loyalty rewards. This high engagement reflects a growing comfort with blended retail journeys, where the mobile device acts as a shopping assistant both digitally and physically. Generational Breakdown of Mobile Shopping Habits Although mobile shopping spans all age groups, adoption rates vary: Millennials lead with 73% adoption, the highest among all age groups. Gen X surprisingly outpaces Gen Z , highlighting a more established reliance on mobile shopping. , highlighting a more established reliance on mobile shopping. Baby boomers and seniors show much lower adoption, with only 18% using smartphones for their latest purchase. Security and Convenience Fuel Mobile Growth UAE consumers cite security and ease of use as key reasons for their high mobile engagement: 32% of users used biometric authentication (fingerprint or facial recognition) in their latest online transaction that is almost double the global average. One-third of shoppers chose one-click checkout via third-party platforms, far exceeding the global average of 17%. Cross-Channel Shopping on the Rise Consumers and businesses in the UAE are increasingly adopting cross-channel shopping features, allowing seamless transitions between online and offline retail: 53% of UAE shoppers already use or are interested in using cross-channel features. On the business side, 56% of merchants currently offer these options, while 28% plan to implement them. This alignment between consumer expectations and retailer offerings positions the UAE as a leader in digital commerce innovation. Daily Shopping Habits Highlight Mobile Preference According to the index: UAE shoppers perform 1.5 mobile shopping activities per day, second only to Saudi Arabia. They use mobile phones for product research an average of 17 days per month, preferring smartphones over computers across all digital shopping tasks.
