New poll reveals that Americans feel worse off financially than at any point in 25 years
A new Gallup survey shows that more Americans than at any time in the past quarter-century believe their personal financial situations are deteriorating, amid persistent cost-of-living pressures and surging energy prices linked to the ongoing conflict with Iran.
A new Gallup survey shows that more Americans than at any time in the past quarter-century believe their personal financial situations are deteriorating, amid persistent cost-of-living pressures and surging energy prices linked to the ongoing conflict with Iran.
The poll, conducted April 1-15, found that 55% of respondents said their finances are getting worse. That figure exceeds last year’s 53% and 2024’s 47%, marking the highest level since Gallup began tracking the question in 2001—even surpassing readings during the pandemic recession and the 2008 financial crisis.
“This is the fifth consecutive year that more Americans say their finances are worsening rather than improving,” the data highlights, underscoring a prolonged slump in consumer sentiment.
Cost-of-living concerns dominate respondents’ worries. When asked to name their most important financial problem, 31% pointed to the high cost of living. Energy costs emerged as a growing flashpoint, cited by 13%—a 10-point jump from the previous year and the highest share since 2008.
The findings arrive as average U.S. gas prices have climbed to $4.11 per gallon, according to AAA, up sharply from under $3 before the Iran war began in late February. Many Americans directly attribute the spike to the conflict’s ripple effects.
Inflation, while lower than its 2022 peak, remains elevated compared to pre-pandemic levels during President Trump’s first term. These pressures present a significant political test for Trump and congressional Republicans heading into midterm elections, as pocketbook frustrations mount nationwide.
Gallup’s results paint a picture of sustained caution: fewer than half of Americans rate their current finances as “excellent” or “good,” with affordability issues—spanning housing, healthcare, and everyday expenses—far outpacing other concerns like taxes or debt.
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