A big survey asked Americans about their finances. Here are some trouble spots

Americans overwhelmingly say they’re “doing at least OK financially,” but most remain worried about rising prices, and 1 in 6 says they have bills they can’t pay, according to a report released Tuesday by the Federal Reserve.

Each year the Fed surveys thousands of people about their household finances, including income, savings and expenses. This year’s snapshot shows family budgets generally held steady over the last year, but they’re not as solid as they were two years ago, when pandemic relief payments helped pad people’s bank accounts and inflation was just beginning to take hold.

The survey, conducted last fall, found that 72% of adults are living comfortably financially or at least doing OK. That’s down from 73% in 2022 and 78% in 2021.


continue reading »