Technology

More Than Half of Americans Fear Covering Unexpected Expenses in 2025

Published

1 year ago

March 31, 2025

Rising Cost of Goods and Economic Uncertainty Create Financial Strain and Shift Payment Preferences, According to New Splitit and PYMNTS Consumer Study

ATLANTA, March 31, 2025 /PRNewswire/ — New research from Splitit and PYMNTS finds that more than 53% of consumers are concerned about affording unexpected expenses in 2025 amid rising anxiety over economic uncertainty. “Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs,” which surveyed more than 7,000 consumers, highlights the financial strain unplanned purchases create—especially among parents and younger consumers—and how credit accessibility sways spending and payment behaviors. These report findings are especially crucial as leading indicators point to a broad decline in consumer confidence, driven by worries over the impact of tariffs on household finances.

“From trade turbulence to market volatility, Americans are navigating a growing list of financial challenges,” said Nandan Sheth, CEO of Splitit. “Consumers are feeling very anxious at the moment, which is why we see consumers becoming more strategic in managing unplanned expenses, balancing financial stability with flexible payment options. Credit card-linked installments provide a smart way to handle life’s surprises, allowing shoppers to leverage their existing credit lines while maintaining financial flexibility. With many consumers already accustomed to using their credit cards for these types of purchases, this approach offers a seamless and responsible way to stay in control in today’s uncertain economy.”

Unplanned expenses, such as emergency car repairs (42.9%) and home repair costs (34.3%), often come with a hefty price tag. Home repairs, the most expensive category, carry a median spend of $2,112. Despite the growing popularity of Buy Now, Pay Later (BNPL), only 9% of consumers used it for emergency purchases—showing that many still default to credit cards, with 38% of Baby Boomers relying on them for emergency costs. As consumers look for more budget-friendly payment options, there’s a clear opportunity for flexible pay-later solutions that prioritize transparency and control.

The report highlights a broader trend: Consumers are relying on credit cards and alternative financing solutions to manage both emergency and impulse spending. Among key findings:

$605 is the median cost of emergency purchases over $250.50% of consumers cite the rising cost of goods as the top reason why they expect to make fewer impulse purchases this year.Gen Z is the most concerned about their ability to cover unexpected expenses at 63%.36% of consumers made an impulse purchase of at least $250 in the last three months, with a median spend of $497.33% of consumers used a credit card as their primary form of payment for their most recent emergency purchase.45% of BNPL users say knowing their purchase would be approved was a key factor in their decision to use it.48% of consumers who made their latest impulse purchase with a credit card paid it off in full at the next statement, while 30% opted for installment plans.Gen Z leads the shift toward credit card-linked installment payments, with 24% choosing merchant-offered installment plans—double the rate of older generations.

Credit accessibility continues to shape purchasing behavior. Consumers with strong credit are more likely to finance unexpected expenses, while those with below-average credit hesitate to make unplanned purchases due to limited financing options. Millennials and Gen Z, in particular, are leaning into flexible payment options—26% of millennials expect to increase their impulse purchases in the next year.

With installment plans resonating across generations—36% of non-Boomer consumers who paid by credit card for an impulse purchase chose an installment plan—it’s clear that consumers are seeking more control over how they pay. As economic uncertainty continues, flexible payment solutions will play a critical role in helping shoppers manage their financial well-being.

Yet, even as consumers navigate emergency expenses, half of shoppers made an unplanned purchase last year, highlighting the tension between financial caution and spontaneous spending. This paradox suggests that while consumers are mindful of budgets and economic uncertainty, they are still drawn to impulse buys, whether driven by emotional triggers, limited-time deals or social influence. For brands, this means balancing affordability, value-driven messaging and flexible payment options with strategies that tap into the spontaneity of consumer spending.

Methodology

The survey for the “Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs” report was conducted with 7,078 consumers across all demographics from January 29 to February 7, 2025.

Download the full report here.

About Splitit

Splitit is a global payment solution provider that lets shoppers use the credit they’ve earned by breaking up purchases into monthly installments using their existing credit card. Splitit enables merchants to improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time without originating new credit. Splitit serves many of Internet Retailer’s top 500 merchants and is accepted by more than 1,500 eCommerce merchants in over 30 countries and shoppers in over 100 countries.

Splitit Media Contact
Danielle Poggi
Berns Communications Group
dpoggi@bcg-pr.com

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SOURCE Splitit USA, Inc.

Technology

Haloid Solutions Expands Access to Radio Equipment by Offering Flexible Financing and Leasing Solutions Named HaloidFLEX

Published

3 hours ago

April 18, 2026

NEW YORK, April 18, 2026 /PRNewswire/ — As part of Haloid Solutions’ long-term commitment to helping businesses and municipalities acquire critical communications equipment despite budgetary constraints, Haloid now offers specialized financing and leasing programs through its HaloidFLEX program.

Designed to ensure that companies and governments have the equipment they need without costly capital expenditures outlays, HaloidFLEX offers financing for equipment purchased directly from manufacturers or local radio dealers. HaloidFLEX financing offers zero percent and low-interest options as well as predictable monthly payments for qualified buyers. HaloidFLEX clients can even opt to incorporate extended support services and protections into their financing to prepare for accidents, theft, or equipment losses. This gives companies peace of mind with one low monthly payment.

For organizations that don’t want or need to own equipment long-term, the HaloidFLEX leasing program offers similar benefits with potential tax advantages. Companies can lease brand new equipment and upgrade or return it at lease-end as needed. For companies seeking flexible options – or those that are interested in upgrading to the latest technology as it becomes available – leasing makes perfect sense.

One of the added benefits of each program is that HaloidFLEX allows clients to bundle services and protections that would normally be billed separately. Accidental damage, theft, and loss protections can be put in place, so that there’s never a lapse in communication if a radio fails. Extended warranties are also available upon request, so companies can customize their financing and protection to fit their budget and safeguard their equipment simultaneously.

According to a Haloid Solutions spokesperson, “Bundling expenses simply makes sense. It reduces the need for multiple policies and flexes with organizations to ensure critical communication equipment is available when needed while guaranteeing that the company’s investment is protected for the life of the equipment.”

HaloidFLEX financing and leasing programs are available to qualified businesses and municipalities nationwide. To learn more or request a customized quote, visit HaloidSolutions.com.

About Haloid Solutions

Haloid Solutions is the go-to resource for U.S. businesses and municipalities in search of financing and leasing for two-way radios, walkie talkies, communications equipment, accessories, and services. Focused on reliability, affordability, and performance, Haloid strives to equip professionals in all communication-based industries with the resources they need most.

For more information about Haloid Solutions, or details about the HaloidFLEX financing or leasing programs, please visit https://haloidsolutions.com/collections/lmr-radio-financing-and-leasing-and-subscription-low-cost-payment-options-for-2-way-radio-equipment or contact us on our website.

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SOURCE HALOID SOLUTIONS

Technology

CAS Holdings Appoints Patrick McDermott as Chief Executive Officer

Published

4 hours ago

April 18, 2026

Leadership Transition Positions CAS Holdings for Continued Growth and Customer-Focused Innovation

FRANKLIN, Mass., April 18, 2026 /PRNewswire/ — CAS Holdings, a leader in industrial automation distribution, engineering, and integration, is pleased to announce that Patrick McDermott has been named Chief Executive Officer.

McDermott previously served as President and Chief Revenue Officer, where he played a key role in driving growth across the organization, strengthening customer relationships, and leading teams with a clear focus on execution and results.

In his new role as CEO, McDermott will lead CAS Holdings into its next phase of growth, building on the company’s strong foundation and continued commitment to delivering value to customers, partners, and employees.

“I’m honored to step into the role of CEO at CAS Holdings,” said McDermott. “Over the past year, I’ve had the opportunity to work alongside an incredible team, support our customers, and help drive the growth of our organization. I’m excited to build on that momentum as we move into our next chapter.”

CAS Holdings, through its divisions including iAutomation and RND Automation, delivers a full spectrum of industrial automation solutions – from product distribution and technical support to custom machine building and system integration. Serving OEM machine builders and end-users, the company brings deep expertise in motion control, robotics, and vision, along with value-added capabilities such as kitting, sub-assembly, panel building, and turnkey automation systems, acting as an extension of its customers’ engineering and production teams.

McDermott’s leadership will focus on advancing CAS Holdings’ strategic initiatives, strengthening its market position, and continuing to deliver innovative automation solutions that support customers across a wide range of industries.

“We have a strong foundation, a talented team, and a clear direction. I’m looking forward to what we’ll accomplish together,” McDermott said. “Our focus remains on supporting our customers with responsive, local expertise, strong supplier partnerships, and the engineering and production capabilities they rely on to keep their operations running and growing.”

About Complete Automation Solutions Holdings

Complete Automation Solutions Holdings (CAS Holdings) is dedicated to empowering industrial automation companies, including those in the packaging industry, to achieve optimal efficiency and success. With a diverse portfolio encompassing industrial distribution, panel building and assembly, system integration, and robotics, CAS Holdings provides comprehensive packaging machines and solutions tailored to meet industry needs. The company prioritizes strong partnerships, expert engineering, and innovative solutions, ensuring sustainable practices and continuous improvement. CAS Holdings envisions a future where its transformative automation solutions redefine industry standards and drive growth. Committed to transparency and collaboration, CAS Holdings aims to be the most trusted partner in the automation sector.

Press Contact:

Erika Jacques
508-838-8012
http://www.iautomation.com/

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SOURCE CAS Holdings, Inc.

Technology

Vipboss Marks Earth Day with Renewed Commitment to Green Energy Solutions

Published

5 hours ago

April 18, 2026

NEW YORK, April 18, 2026 /PRNewswire/ — As Earth Day draws global attention to environmental responsibility, Vipboss, a specialist manufacturer and developer of lithium iron phosphate (LiFePO4) battery packs for energy storage and mobility applications, is underscoring its long‑term commitment to sustainable energy practices through its Environmental Advocacy. This advocacy is devoid of ornate language; its inspiration stems from the brand’s unwavering conviction in LiFePO4 batteries as a green energy solution. To align this message with practical action, the brand is also running a themed sales campaign on its official website during April 18th to 30th. It highlights how practical product solutions, rather than abstract concepts, can support cleaner energy use in everyday life.

Across the world, energy consumption patterns are undergoing rapid change. Households, outdoor users, and light‑mobility sectors are increasingly seeking energy systems that are safe, sustainable, and low‑emission. Within this shift, LiFePO4 batteries have emerged as a preferred technology for clean‑energy applications. Their long service life, high safety profile, and absence of cobalt, which is an element associated with higher environmental and ethical risks, position them as a responsible choice in the global transition toward greener power.

LiFePO4 technology forms the foundation of Vipboss’s approach to sustainable energy. Its extended cycle life reduces the frequency of battery replacement, lowering resource consumption and easing the environmental burden associated with disposal. The material’s inherent stability also minimizes the risk of thermal runaway, offering a safer experience in homes, recreational vehicles, and public environments. In practical use cases such as home backup systems, RV travel, and golf‑course operations, LiFePO4 batteries deliver efficient storage and stable output, helping reduce reliance on fossil‑fuel‑based energy sources and supporting lower‑carbon lifestyles.

Vipboss’s environmental advocacy extends beyond the technical advantages of its products. The brand promotes responsible energy use as an integral part of sustainable living, emphasizing that product design and informed application must work together to achieve meaningful environmental outcomes. As a provider of energy solutions for home, travel, and leisure scenarios, Vipboss continues to participate in the long‑term process of green transformation through ongoing technological refinement and product evolution.

Earth Day serves as a reminder that lasting environmental impact is built through small, consistent actions. Looking ahead, Vipboss will continue advancing safer, more durable, and more efficient energy products that support individuals and families in adopting more sustainable energy habits. Through these efforts, the brand aims to contribute enduring value to the wider adoption of clean energy and the collective pursuit of a more sustainable future.

About Vipboss

Vipboss is a specialist in the lithium battery industry, focusing on the research, production, and manufacturing of lithium iron phosphate (LiFePO4) battery packs. The company is committed to advancing battery technology with an emphasis on reliable performance, safety, and extended service life. Its mission is to deliver safe, efficient, and environmentally responsible energy solutions that contribute to a cleaner, more sustainable future.

For more information, please visit: https://vipbosspower.com/.

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SOURCE Vipboss