Summary
Many Americans are experiencing financial difficulties, with essential costs rising faster than wages. A survey showed that people are spending less and using savings or taking on debt to cope. Despite inflation slowing down, the cost of living remains high for many.
Key Facts
- A survey by Resume Now involved 1,011 employed Americans.
- Only 17% feel secure enough to save after covering essentials.
- Nearly two-thirds say everyday essentials are their main financial burden.
- 92% have cut back on spending, even on necessary items.
- Only 12% of respondents say their wages have kept up with inflation.
- In 2025, 49% of survey participants used savings, and 24% took on debt.
- 60% of people could only cover three months of expenses if they lost their income.
- 40% cut back on grocery spending, and over 20% delayed medical care due to cost.
