Record number of Americans say their financial outlook is ‘getting worse’

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WASHINGTON - A record share of Americans say their financial situation is getting worse, as rising living costs continue to dominate economic concerns, according to a new poll.

The findings were revealed in Gallup’s annual Economy and Personal Finance survey, conducted April 1-15. More than 1,000 Americans were surveyed. 

Record number of Americans’ opinions on financial outlook

By the numbers:

In an open-ended question, 31% of respondents cited "high cost of living" as the most important financial problem facing families.

While this is below the 41% peak in 2024, this year’s data is similar to a year ago and among the highest in Gallup’s more than 20-year trend.

Affordability concerns dominated this year’s list, with combined mentions of inflation, energy, housing and healthcare costs — along with college expenses, transportation costs and child care — far exceeding all other types of financial concerns.

FILE: Couple discussing home finance while checking bills. (Credit: Getty Images)

While affordability issues are usually the top category of responses, Gallup said this was the fifth consecutive year that they have led by a wide margin.

Americans’ financial outlook in 2026 was also historically poor, with a record 55% saying their financial situation is getting worse. While similar to last year’s 53%, this is up from 47% in 2024 and marks the fifth consecutive year where more Americans said their finances are worsening rather than improving.

The only similar multiyear period when the larger share felt their financial situation was worsening was during the Great Recession.

Other concerns

Dig deeper:

Certain economic conditions or programs were the next-most-cited type of issue Americans named. These included taxes (6%), the state of the economy (2%), the stock market (2%), interest rates (2%) and Social Security (1%).

Insufficient income ranked as a close third category of concerns, including those citing lack of money or low wages (7%) and unemployment or job loss (4%).

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Meanwhile, energy costs rose notably this year and were mentioned by 13% of Americans, up 10 percentage points from last year and the highest since 2008 — tying housing costs as the second-biggest concern. 

Healthcare ranked fourth at 8%, consistent with readings since 2020.

Finances continue to be top of mind for Americans

Big picture view:

This comes as cost issues continue to be top of mind for Americans amid ongoing inflation.

Another recent Gallup Panel survey showed 55% of Americans reporting that recent price increases have been a hardship on their ability to maintain their standard of living, largely unchanged since 2023 after being lower in late 2021 and early 2022.

In addition, less than half of those surveyed continue to rate their financial situation as "excellent" or "good" (currently 46%), and more than a third call it "only fair" (35%). Relatively few say their situation is "poor" (19%).