Most Americans worried about living standards, expenses: poll

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Most Americans worried about living standards, expenses: poll

Most Americans fear for their current standard of living amid the highest rate of inflation in four decades — and those at the bottom rung of the income ladder say they are bearing the brunt of the disastrous economy, according to a poll released on Monday. 

The Gallup survey found that more than half of Americans — 52% — say they are very or moderately worried about keeping up their lifestyle, up from 45% last year.

In addition, four in 10 Americans say they are fretting about paying their regular monthly bills, up from 32% in 2021, and 35% say they are stressing about keeping up with their rent or mortgage payments (30% last year).

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.

A general view of an under contract sign in front of a house as seen in Hawthorne, NJ on April 21, 2022. The real estate market has been red hot in the New York City suburbs due to people wanting to flee the city during the pandemic for a higher quality of life leading to bidding wars and inflated prices. (Photo/Christopher Sadowski)
The poll surveyed 1,018 adults between April 1-19.
Christopher Sadowski

Financial anxieties are more pronounced among those making less than $40,000 a year. 

Among that income group, 73% say they worry about maintaining their standard of living – a 17 percentage-point jump over 2021, while 66% fear not having the money to pay their monthly bills — a 15 percentage-point hike. 

In the same income bracket, 59% are sweating paying their rent or mortgage — a 12 percentage point rise over 2021. 

A general view of a Coldwell Banker Realty For Sale sign in front of a house as seen in Hawthorne, NJ on April 6, 2022. The real estate market has been red hot in the New York City suburbs due to people wanting to flee the city during the pandemic for a higher quality of life. (Photo/Christopher Sadowski)
Financial anxieties are more pronounced among those making less than $40,000 a year.
Christopher Sadowski

Among those earning up to $99,999 a year, 52% worry about maintaining their financial standing, up from 46% last year, and 40% are anxious 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, with earnings of $100,000 or more, worry about preserving their standard of living (up from 32% last year) — but concerns about paying monthly bills among that group has jumped 11 percentage points to 18% and worries about paying rent and mortgage increased eight percentage points to 15%.

The poll surveyed 1,018 adults between April 1 – 19.  It has a margin of error of plus-or-minus 4 percentage points.

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