Many adults across the United States continue to struggle financially, with only a fraction of them confident they can keep up with their expenses.
A total of only 29% of adults are confident they are able to keep up with their expenses, compared to 41% who are somewhat confident and 29% who are either not very or not at all confident. The percentage of adults confident they can keep up financially with their expenses has decreased from October 2021, when this percentage was at 45%, according to the poll conducted by the Associated Press and the NORC Center for Public Affairs Research.
When asked how confident respondents would be if they wanted to find another job, only 26% said they would be very or extremely confident. Only 20% of those making less than $50,000 a year annually said they were confident they could find another job, while just 27% making between $50,000-$100,000 annually said they were confident.
Almost a majority of respondents, 46%, said they were not confident they would be able to pay for an unexpected medical expense — 63% making less than $50,000 annually said they were not confident, 47% making between $50,000-$100,000 said they were not confident, and 19% making over $100,000 said they were not confident.
While 53% of the public describe their own financial situation as good, 47% described it as poor. For people whose household income is under $50,000, 61% said their finances are in poor shape.
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The poll was conducted from March 16-20 and surveyed a total of 1,081 respondents. The margin of error in this survey was 4%.
In another recent survey, 45% of parents are helping their adult children financially. The largest age groups receiving financial support from their parents are people between the ages of 20 and 24, at 52%, followed by those between 25 and 29, at 17%, according to the study by Savings.