Minority of adults say are confident they can keep up with expenses

Many adults across the United States continue to struggle financially, with only a fraction of them confident they can keep up with their expenses.

Only 29 % of adults believe they can manage their expenses, compared to 41 % who are at least somewhat confident and 9 % who either are not very confident or not at all. According to a survey conducted by the Associated Press and the NORC Center for Public Affairs Research, the proportion of adults who are confident they can manage their finances has decreased since October 2021, when it was 45 %.

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Only 26 % of respondents said they would be very or extremely confident if they wanted to find another job. Only 27 % of those earning between$ 50 000 and$ 100 000 per year said they were confident they could find another job, compared to only 20 % who made less than$ 50,000 annually.

Nearly all respondents — 46 %— stated that they lacked confidence in their ability to cover unanticipated medical expenses. 63 % of respondents who earn less than$ 50,000 per year reported having no confidence, 47 % who report having between$ 50 000 and$ 100 000,000, and 19 % who say they were not confident.

47 % of people said their own financial situation was poor, compared to 53 % who said it was good. 61 % of households with household incomes under$ 50,000 reported having poor financial situation.

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A number of 1, 081 responders were polled over the course of the survey, which was conducted from March 16 to March 20. This survey’s margin of error was 4 %.

45 % of parents are providing financial support for their child adolescents, according to a recent study. According to a Savings study, people between the ages of 20 and 24 receive the most financial support from their parents at 52 %, followed by those between 25 and 29 at 17 %.