A record 55% of Americans say their financial situation is getting worse, according to Gallup's 2026 economy and personal finance survey – a historically poor showing. This is the fifth consecutive year their views on their personal situations have worsened.
Unsurprisingly, concern about the high cost of living remains near its highest level in 20 years, with 31% of respondents citing it as one of the most important financial problems confronting their families.
The number of people naming energy costs rose 10 percentage points to 13% since 2025 – the highest since 2008 – matching concerns about housing costs.
Healthcare expenses ranked fourth, at 8%. Some 60% of Americans fear they will not be able to cover medical costs in the case of a serious accident or illness – and just under half have the same worry about routine healthcare expenses.
Inflation, energy, housing, college expenses, transportation and childcare costs all contributed to Americans' anxiety about affordability at higher levels than other financial worries. The share of people who are afraid of how they will pay for their children's education rose from a third between 2021 and 2025 to 40% in 2026.
Some 6% of respondents were concerned about taxes, while 2% each worried about the economy, the stock market and interest rates and 1% about Social Security.
These circumstances, combined with recent price increases, have caused 55% of respondents to experience such financial hardship that it has affected their ability to maintain their standard of living – a trend first observed in 2023.
"Less than half 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%)," the report stated.
The findings contrast with the more positive views reported in 2016-2021.
"Today's readings are more in line with 2008-2015, although not quite as negative as the ones during and immediately after the Great Recession from 2009 to 2011, when about four in 10 were positive."
Respondents pointed to lack of money or low wages (7%) and unemployment or job loss (4%) as causes of insufficient income. Others noted carrying too much debt, especially credit card debt (11%). For some, lack of savings for retirement (3%) or for general purposes (2%) was another cause of distress.
Not having enough money for retirement (62%) was a major concern for many, while 54% worried about investment returns and their ability to maintain their standard of living.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.