Financial Woes on the Rise in the U.S.

The Covid-19 pandemic was not kind on the bank balances of many Americans, especially those working in industries like travel and hospitality. On top of the last two year of struggle, the rising cost of living, driven by the Russian war with Ukraine and drastically rising fuel costs, has added extra woes for a great number of people in the United States.

As this infographic using Gallup survey data reveals, worries in the U.S. have been spreading in key aspects of personal finance. Not having enough money for retirement, already on the minds of a majority of Americans when surveyed in 2019, has risen 9 points to 63 percent in 2022. The largest percentage point increase over this time period was for those saying they are moderately or very worried about maintaining their desired standard of living - going from 42 percent in 2019 to 52 percent in 2022.

Naturally, there are significant differences when looking at the results by income bracket. As Gallup reports, "most notably, the percentage worried about maintaining their standard of living has increased 17 points among lower-income adults, from 56% in 2021 to 73% today. By contrast, it has increased six points to 52% among middle-income earners and four points to 36% among the top income group."