"A record 55% of Americans say their financial situation is getting worse."
Financial Strain Persists: Cost of Living Remains Top Concern, Energy Prices Surge
High cost of living still dominates American financial worries, cited by 31% of Americans as the most important problem facing their families. While this is down from the 41% peak recorded in 2024, it remains similar to levels seen a year ago and among the highest readings in Gallup's 20-year trend.
Energy costs have emerged as a major new pressure point, mentioned by 13% of respondents. This represents a 10 percentage point jump from last year, marking the highest level of concern since 2008. Energy costs are now tied with housing costs as the second-biggest financial worry.
Healthcare ranks fourth, cited by 8% of Americans—a figure that has remained consistent since 2020.
Widespread Pessimism on Personal Finances
A record 55% of Americans report that their financial situation is getting worse, up from 53% last year and 47% in 2024. This is the highest level of pessimism ever recorded by Gallup on this measure.
Despite this, 46% of Americans rate their current financial situation as "excellent" or "good." This figure is similar to readings since 2022 and remains in line with the levels seen during the 2008-2015 period.
Key Financial Worries
Majorities of Americans express significant anxiety about specific financial risks:
- 62% worry about not having enough money for retirement
- 60% worry about being unable to cover medical costs from a serious accident or illness
- 54% worry about investment returns
- 54% worry about maintaining their standard of living
Other notable concerns include:
- Routine healthcare costs (48%)
- Paying monthly bills (41%)
- Affording college (40%)
- Housing costs (35%)
- Making minimum credit card payments (28%)
"Record 55% of Americans say their financial situation is getting worse, the highest level of pessimism ever recorded by Gallup."
Methodology: Data is from Gallup’s annual Economy and Personal Finance survey, conducted April 1-15.