A recent survey conducted online by The Harris Poll for BW in April 2025 found that nearly 4 in 5 Americans are concerned about the state of their finances. Specifically, 79% of respondents expressed worries about their current financial situation. Among these concerns, 64% were related to not having enough money saved, 44% were about having too much debt, and 26% were about not making enough money.
To address these common financial concerns, it’s important to take proactive steps. Here are some tips for handling four of the most common money worries identified in the survey:
1. Not having enough saved for emergencies
The survey revealed that 41% of Americans are concerned about not having sufficient emergency savings. Building and maintaining an emergency fund equivalent to three to six times your monthly expenses can provide a financial safety net in times of unexpected expenses.
In addition to saving, it’s crucial to assess your insurance coverage to protect yourself and your loved ones in case of a major emergency. Consider disability insurance to cover lost income due to illness or injury, and term life insurance to provide financial security for dependents in the event of your death.
2. Too little retirement savings
A significant concern for 39% of Americans is the lack of sufficient retirement savings. To address this, consider budgeting strategies like the 50/30/20 rule and take advantage of workplace retirement accounts and individual retirement accounts (IRAs) to save and invest for retirement.
3. Too much credit card debt
Concerns about excessive credit card debt were raised by 23% of Americans in the survey. Strategies for paying off high-interest credit card debt include the debt snowball and debt avalanche methods, as well as considering balance transfer cards and debt management plans.
4. Not making enough money
More than one-fifth of Americans (21%) expressed concerns about inadequate income. Strategies to address this include negotiating for a raise at work and exploring additional income opportunities through part-time jobs or gig work.
Across all income levels, the concern about inadequate income was consistent, with no significant difference between the highest and lowest earners, as revealed by the survey.
Fortunately, individuals from various income brackets can often discover ways to reduce their monthly expenses. By canceling unused subscriptions, opting for a more affordable cell phone plan, and comparing insurance rates, it is possible to make a positive impact on finances.
Furthermore, the survey uncovered a positive finding: approximately 21% of Americans reported having no worries about their personal financial situation. This percentage is equivalent to the combined population of Texas and California based on 2024 U.S. Census data.
Methodology:
The Harris Poll conducted this online survey in the United States on behalf of BW from April 29 to May 1, 2025, involving 2,098 adults aged 18 and above. The precision of Harris online polls is determined using a Bayesian credible interval. The sample data for this study has an accuracy of +/- 2.5 percentage points with a 95% confidence level. For detailed survey methodology, including weighting variables and subgroup sample sizes, please reach out to [email protected].
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