Most Americans fear for their current standard of living amid the highest rate of inflation in four decades – and those at the bottom of the income ladder say they are bearing the brunt of a disastrous economy, according to a survey released Monday.
The Gallup survey found that more than half of Americans — 52% — say they are very or moderately concerned about maintaining their lifestyle, up from 45% last year.
In addition, four in 10 Americans say they’re fret about paying their regular monthly bills, up from 32% in 2021, and 35% say they’re paying their rent or mortgage payments (up from last year). 30%) are insisting on maintaining.
Nearly two-thirds of Americans (63%) are worried they won’t have enough money to retire, up from 58% in 2021 and 54% in 2019.
Financial concerns are more pronounced among those earning less than $40,000 a year.
In that income bracket, 73% say they worry about maintaining their standard of living, a 17 percentage-point jump in 2021, while 66% say they worry about not having money to pay their monthly bills. Have fear, a 15-point increase.
In the same income bracket, 59% are sweating to pay their rent or mortgage – a 12 percent increase in 2021.
Of those earning up to $99,999 a year, 52% worry about maintaining their finances, up from 46% last year, and 40% are worried about paying monthly bills, an increase of five percentage points. More than a third of that group – 34% – worry about paying their rent or mortgage, up from 30% in 2021.
Only 36% of Americans in the highest income range, earning $100,000 or more, worry about maintaining their standard of living (up from 32 percent in the previous year)—but among that group worry about paying monthly bills. 11 percentage points has increased to 18. % and rent and mortgage concerns rose eight percentage points to 15%.
The survey surveyed 1,018 adults between April 1 and April 19. It has a margin of error of plus or minus four percentage points.