Gallup Poll: Record 55% Report Worsening Finances

A record 55 percent of Americans say their financial situation is getting worse, according to a Gallup poll released this week, marking the highest level since the survey began in 2001 and surpassing readings from the Great Recession and early COVID-19 pandemic.

The survey, conducted April 1 to 15 among more than 1,000 U.S. adults, found that affordability issues dominate financial concerns. In an open-ended question, 31 percent cited the high cost of living as the most important problem facing their families, similar to last year but among the highest in over two decades. Energy costs emerged as a top issue for 13 percent, up 10 percentage points from 2022 and the highest since 2008, tying with housing costs. Healthcare ranked next at 8 percent, consistent with recent years.

"Overall, affordability concerns dominate this year's list, with combined mentions of inflation, energy, housing and health care costs along with college expenses, transportation costs and childcare far exceeding all other types of financial concerns," Gallup reported.

The poll highlighted both short-term and long-term anxieties. Majorities expressed worry about not having enough money for retirement (62...