A big survey asked Americans about their finances. Here are some trouble spots

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Economy News

NPR News,Family Finances,U.S. Financial Snapshot

The survey, conducted last fall, found that 72% of adults are living comfortably financially or at least doing OK. That's down from 73% in 2022 and 78% in 2021.

Rising prices remain a top concern for Americans, according to a new survey by the Federal Reserve. But 72% of adults say they’re living comfortably financially or at least doing OK.

Each year the Fed surveys thousands of people about their household finances, including income, savings and expenses. This year’s snapshot shows family budgets generally held steady over the last year, but they’re not as solid as they were two years ago, when pandemic relief payments helped pad people’s bank accounts and inflation was just beginning to take hold.

About a third of those surveyed said their monthly income had increased during the year, while a slightly higher percentage — 38% — said their monthly expenses had grown.and less than half what it was in 2022, two-thirds of Americans say rising prices have made their financial situation worse, including 19% who say they’re much worse off. About 1 in 3 people said inflation had little effect on their family finances.

NPR News Family Finances U.S. Financial Snapshot

 

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