While a majority of Americans indicate that their local cost of living is affordable, this survey from Yahoo Finance and the Marist Poll highlights a challenging financial outlook for many Americans. In fact, 45% of residents nationally believe their cost of living is unaffordable, and a notable one in three report their personal finances have worsened during the past year. Only about one in five say their personal financial situation has improved, and a mere plurality report that their financial situation has remained steady. While Americans divide on how satisfied they are with the amount of money they have in savings, a plurality of adults say their income about matches their expenses, and nearly three in ten report their monthly expenses outweigh their monthly income. Additionally, more than four in ten adults report not knowing their net worth. Generation, income levels, and gender play key roles in Americans’ opinions about personal finances.
Cost of Living Perceptions
While a majority of Americans consider the cost of living in their area to be affordable, more than four-in-ten perceive it to be burdensome. Age plays a role in public opinion with younger Americans having a slightly more positive outlook about the cost of living in their areas than do their older counterparts.
• 45% of adults describe the cost of living in their area as not very affordable (36%) or not affordable at all (9%).
• 55% say their area is affordable (44%) or very affordable (11%).
• Gen Z (19%) and Millennials (17%) are more likely than Gen X (10%) and Baby Boomers and members of the Silent/Greatest generation (3%) to say costs are very affordable.
• Men (60%) are more likely than women (50%) to believe the cost of living in their area is either affordable or very affordable.
Trends in Personal Finances
One in three Americans say their financial situation has deteriorated in the past year. Financial setbacks are most common among lower-income individuals and older generations.
• 33% of Americans report their family finances have gotten worse in the past year; 27% say they have gotten better, and 40% say they’ve stayed about the same.
• Older generations (39% of Gen X, 35% of Baby Boomers and members of the Silent/Greatest generation) are more likely to report that their family finances have worsened over the past year than are members of Gen Z (29%) and Millennials (29%).
• An income gap exists. 47% of households earning under $50,000 report worsening finances compared with 27% of higher earners.
• Men (36%) are twice as likely as women (18%) to report their finances have gotten better.
Savings Satisfaction
Satisfaction with personal savings is divided, especially among different generations and income levels. Only about one in ten Americans feel completely secure with their financial cushion.
• A little more than half of Americans express satisfaction with their savings. 25% are completely satisfied or very satisfied with their current savings. An additional 26% are somewhat satisfied.
• 31% of Americans report being very dissatisfied or completely dissatisfied with their current level of savings. 18% are somewhat dissatisfied.
• Members of Gen Z (12%) and Millennials (16%) are more likely than members of Gen X (8%) and Baby Boomers and members of the Silent Greatest generation (6%) to say they are completely satisfied with their savings.
• An income disparity exists. 30% of those earning less than $50,000 annually express complete dissatisfaction with their level of savings compared with only 9% of higher earners who share this view.
• Men (31%) are more likely than women (19%) to be either completely or very satisfied with the amount of money they currently have saved.
Monthly Budget Balance
Balancing monthly budgets remains a challenge for many. A plurality of adults reports their income just about matches their expenses, and nearly three in ten say their monthly expenses exceed their monthly income.
• 45% of Americans say their income about matches their monthly expenses.
• 29% report that expenses exceed income each month while 27% report that their income consistently exceeds their expenses.
• Despite being more likely than younger generations to report dissatisfaction with the current savings levels, Baby Boomers and members of the Silent/Greatest generation (31%) are more likely to report monthly budget surpluses than members of Gen X (26%), Millennials (25%), and Gen Z (23%).
• 42% of adults earning under $50,000 say their expenses exceed their income. This is nearly double the proportion of those earning more than $50,000 (22%) who say the same.
Coping Strategies for Financial Shortfalls
If faced with budget gaps, a plurality of Americans would prefer to cut spending, but many say dipping into savings or using a credit card is the way to make ends meet.
• 41% of Americans say they would cut spending when expenses exceed income, and 26% would dip into savings.
• 23% would use a credit card to make ends meet, and 10% would borrow money.
• Notably, lower income households are more likely to cut spending when expenses get too high. Pluralities of households with incomes under $50,000 (46%) say they would cut spending when expenses exceed income, while 39% of those making over $50,000 say the same.
Credit Scores and Their Impact
More than four in ten Americans say their credit scores have played a role in financial decisions during the past year, with Millennials being the generation most likely to report this occurrence.
• 44% of Americans say their credit score has influenced a financial decision in the past year, 55% say it has not.
• Millennials (57%), Gen Z (50%) and members of Gen X (48%) are more likely than Baby Boomers and members of the Silent/Greatest generation (30%) to have had their credit score factor into a financial decision in the last 12 months.
• 42% of Americans report their credit score has mostly helped them achieve their financial goals over the past year. 38% say it has neither helped nor hurt, and 19% report their score has mostly hurt their ability to achieve their financial goals.
• Men (50%) are more likely than women (36%) to report their credit score has mostly helped them reach their goals.
• Adults with a household income of less than $50,000 (30%) are more than twice as likely as those earning more than $50,000 (14%) to say their credit score has mostly hurt their ability to achieve their financial goals.
Financial Knowledge and Credit Awareness
Most Americans report being aware of their credit score, and more than seven in ten are confident in their knowledge of how spending and saving decisions can impact their credit score. Men and households with incomes exceeding $50,000 are more likely to report high levels of awareness about the impact saving and spending can have on their credit score than their counterparts.
• 78% of Americans say they know their credit score. 22% either do not know their credit score (13%) or are unsure (9%).
• 84% of households with incomes above $50,000 say they know their credit score compared with 66% of households earning under $50,000 who say the same.
• Men (82%) are more likely than women (74%) to say they known their credit score.
• 72% of Americans say they know a great deal (31%) or a good amount (41%) about how spending and saving decisions affect their credit score.
• 28% report they know a little (22%) or nothing at all (6%) about the implications their saving and spending habits have on their credit rating.
• Men (75%) are more likely than women (69%) to say they know a great deal or good amount about how spending and saving decisions impact their credit scores.
• 78% of households with incomes of $50,000 or more express greater awareness of how financial decisions affect their credit scores compared with 60% of households earning under $50,000.
Awareness of Net Worth
When asked about their net worth, defined as total assets minus total liabilities, more than four in ten Americans report a lack of knowledge or uncertainty. Generally, awareness increases with age and income.
• 58% of Americans say they know their net worth while 21% say they do not. 21% are unsure.
• Generationally, 48% of Gen Z, 57% of Millennials, 56% of Gen X, and 66% of Baby Boomers and members of the Silent/Greatest generation report knowing their net worth.
• 68% of men, compared with 48% of women say they know their net worth.
• An income-based knowledge gap exists. 68% of those earning $50,000 or more are confident they know their net worth compared with only 39% of households earning less than $50,000 annually.
Methodology: Yahoo Finance/Marist Poll of 2,575 National Adults
This survey of 2,575 adults was conducted June 13th through June 17th, 2025, by the Marist Poll sponsored in partnership with Yahoo Finance. Adults 18 years of age and older residing in the United States were contacted through a multi-mode design: By text or online. Results for all adults (n=2,575) are statistically significant within ±2.1 percentage points.