Large percentage of Americans report they’re struggling to make ends meet | SSTI (2024)

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Large percentage of Americans report they’re struggling to make ends meet | SSTI? ›

Almost 40% of American adults report they struggle to make ends meet each month, an increase from 34.4% in 2022 and 26.7% in 2021. At 46.2%, Louisiana had the highest percentage reporting financial struggles followed by Mississippi (45.7%) and Arkansas (45.6%).

About 38.5% of American adults — or 89.1 million people — faced difficulty in paying for usual home expenses between April 26 and May 8, according to the latest Household Pulse Survey. That's up from 34.4% a year ago and 26.7% during the same period in 2021.

80% of Americans Are Still Struggling Financially 4 Years After COVID-19.

More than two-thirds of parents (68%) surveyed said they were “struggling to make ends meet,” with an additional 23% of parents reporting that their families sometimes faced financial struggles.

More than half of Americans (58%) report being able to live within their means and not worry about making ends meet, while fewer than half (40%) feel they are in good or great financial shape, and one in four (23%) say they are in poor shape.

These are the biggest financial stressors for American families living paycheck to paycheck: 69% cite inflation. 59% cite lack of savings. 28% cite rising interest rates.

Even though household net worth is on the rise in America (at $156 trillion at the end of 2023)—so is debt. The total personal debt in the U.S. is at an all-time high of $17.5 trillion. The average American debt (per U.S. adult) is $66,772, and 77% of American households have at least some type of debt.

The most recent data from the US Census Bureau shows that the national poverty rate is 11.5%. To put that into perspective, that's 37.9 million people living in poverty in America.

1.1 billion people, including 566 million children, live in multidimensional poverty, accounting for just over 18% of the world's population.

Job openings remain high, and the unemployment rate has held below 4% for more than two years straight. But Americans are also grappling with the highest interest rates in two decades and chronically high inflation that has made the cost of everyday necessities like groceries, rent and gasoline far more expensive.

What does struggling to make ends meet mean? ›

To make ends meet means "to pay for the things that you need to live when you have little money." This is a good example of an idiom that is often used in English but that is not transparent in meaning. Here are some examples of how this phrase is used: We had a hard time making ends meet.

How Many Americans Are Living Paycheck to Paycheck? A 2023 survey conducted by Payroll.org highlighted that 78% of Americans live paycheck to paycheck, a 6% increase from the previous year. In other words, more than three-quarters of Americans struggle to save or invest after paying for their monthly expenses.

The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new Pew Research Center analysis of government data.

More Americans may be struggling to make ends meet. A majority, 65%, say they live paycheck to paycheck, according to CNBC and SurveyMonkey's recent Your Money International Financial Security Survey, which polled 498 U.S. adults.

We found the habit of tapping into savings regularly diminishes as Americans age. Just 22% of Millennials, 15% of Gen X and 3% of Baby Boomers report dipping into their savings to cover typical expenses on a daily or weekly basis.

At the end of 2022, 73 percent of adults were doing at least okay financially, meaning they reported either “doing okay” financially (39 percent) or “living comfortably” (34 percent). The rest reported either “just getting by” (19 percent) or “finding it difficult to get by” (8 percent).

Those most likely to report being dissatisfied with how their bodies look include women (83% vs. 74% of men), younger adults (86% of those ages 18-34 vs. 75% of those 55+), and those with a college degree (82% vs.

Most American households have at least $1,000 in checking or savings accounts. But only about 12% have more than $100,000 in checking and savings.

Nothing. That's not much to fall back on in retirement. As many as 28% of Americans have nothing saved for their retirement, 39% aren't contributing to a retirement fund and another 30% don't think they'll ever be able to retire. That's according to a new GoBankingRates survey.

According to PYMNTS Intelligence, 62% of U.S. consumers now live paycheck to paycheck, and that includes 48% of consumers earning more than $100,000 annually.