Gallup Poll on Top Financial Problems of Americans
Personal finances are a major concern of average Americans, according to the latest Gallup poll, but the results show that Americans are most concerned about healthcare costs, low wages, and a lack of jobs when it comes to worries about their finances. There was a reduction in the number of Americans saying the cost of homeownership was their biggest financial worry.
Making sense of the story:
- In 2012, a full 12 percent of Americans put the cost of homeownership and renting at the top of their financial worry. Now it’s down to six percent.
- Below the $30,000/ year income bracket, housing was the most important worry for 9 percent of the respondents. That lowers to four percent in the $30,000 to $75,000 range.
- For those making more than $75,000, six percent of respondents said housing was their top financial concern.
-For comparison, healthcare costs and low wages were cited by 14 percent of Americans as the most important financial issue.
-Fewer Americans than a year ago cited the high cost of living or unemployment, and the percentage naming oil or gas prices was down from 2012.
-The percentage of Americans who didn't mention any financial problem was up five percentage points from last year, to 17 percent. This sizable uptick suggests that the economic recovery may be reducing the financial problems that families face.
-Lower-income Americans named "lack of money/cash flow" and "not enough money to pay debts" as their top most important money woes. The stock market or investments, interest rates, retirement savings, and controlling spending did not rank among lower-income Americans' top financial problems.