Gallup: Record 55% of Americans Say Their Finances Are Getting Worse

A record 55% of Americans say their financial situation is worsening, Gallup found, as affordability concerns weigh on household confidence.

A record share of Americans say their personal finances are deteriorating, with 55% reporting that their financial situation is getting worse, according to a new Gallup poll.

The reading is the highest Gallup has recorded since it began asking the question in 2001, surpassing levels seen during the COVID-19 pandemic in 2020 and the Great Recession in 2008. Gallup said the survey was based on interviews with 1,001 adults conducted April 1-15.

The findings point to broad unease over household affordability at a time when many consumers are worried about monthly bills, credit card payments and long-term savings. Gallup found that recent increases in consumer prices have caused financial hardship for about 55% of respondents.

Energy costs are one visible source of pressure. About 13% of those polled cited rising oil and gas prices as a concern, up 10 percentage points from a year earlier. CBS News reported, citing AAA, that average gas prices reached $4.18 a gallon Tuesday, their highest level since the Iran war began, after rising 7 cents overnight.

Gallup said the concerns extend well beyond gasoline. “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,” the polling organization said.

The strain is showing up in both immediate and long-range worries. Gallup found that 28% of respondents were concerned about making minimum payments on credit cards, up 2 percentage points from last year and 11 points from 2021. About 62% said they feared not having enough money for retirement, up 3 points from a year earlier.

A separate 2026 retirement study from the Allianz Center for the Future of Retirement, cited in the report, found that 67% of Americans said they were more worried about running out of money than dying, an increase of 10 percentage points from the prior year.

NerdWallet senior economist Elizabeth Renter told CBS News that frequent, unavoidable costs can quickly sour consumer views. “A tight budget can become unmanageable fairly quickly when things like gas and groceries get more expensive,” she said.

The poll does not by itself predict where the economy is headed, but it underscores how persistent affordability pressures are shaping public sentiment heading into the months ahead.