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  • Martin Matthews

Americans Are Under Financial Stress

Updated: May 18

What's happening:

๐Ÿ“Š A recent CNBC Your Money Financial Confidence Survey found that 70% of Americans feel stressed about their personal finances, and 52% say their stress has increased since the start of the Covid-19 pandemic.

Why it's happening:

๐Ÿ  Rising costs of basic household expenses, inflation, and economic instability are major factors contributing to financial stress. ๐Ÿ’ฐ A lack of savings and increased reliance on credit cards for covering shortfalls exacerbate the situation. ๐Ÿฆ Recent bank failures have weakened confidence in the U.S. banking system, with only 13% of adults saying they're very confident in it. ๐Ÿšซ High earners aren't immune to these pressures, with 57% of those making $100,000 or more feeling financially stressed.

๐Ÿšบ Women are more financially stressed than men, with 72% feeling stressed compared to 67% of men.

Martin and Chelsea Matthews

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