Americans Are Struggling To Pay These 5 Everyday Bills and Expenses, Survey Finds

Logo NasdaqNasdaq
2023-09-05 15:22:15  • 6 mins

Its no secret that the cost of living has increased, and most Americans are feeling the impact of inflation at some level. With everyday expenses increasing, some bills have become challenging to keep up with.

Read: 8 Major Appliances That Are Wastes of Money

Learn: How To Get Cash Back on Your Everyday Purchases

Here we will look at the everyday bills and expenses Americans are struggling with and provide insights on what can be done about this.

According to a survey conducted by GOBankingRates, Americans are struggling with the following five everyday bills: electric, gas, internet/cable, phone and water. The 1,091 respondents were asked which bills were the hardest to keep up with. About 35% of respondents struggled with their electric bill in the last year, while only 3.85% stated that the water bill was the toughest to keep up with.

Here are the key highlights from the survey about struggles with everyday expenses:

  • 43.72% of respondents admitted having trouble paying for their utilities (gas, electric, heat, internet, etc.) in the last 6-12 months.
  • Over the past year, 16.5% had problems keeping up with the gas bill.
  • 7.42% needed help to keep up with the phone bill.
  • Just under 10% have struggled with paying for internet or cable.
  • Only 26.86% of those surveyed claimed they had no trouble keeping up with the five categories of everyday expenses over the past year.
  • Men and women struggled the most with the electric bill, with 34.52% and 37.58% expressing that this was the toughest everyday bill to keep up with.
  • 44.37% of the 65 and over demographic shared that they didnt have any struggles with these everyday expenses.
  • 41.95% of those in the 25 to 34 demographic confessed to struggling the most with the electric bill.

How You Can Reduce Expenses and Save Money

As frustrating as it can be to feel the sting of these everyday expenses constantly increasing, the good news is that you can find ways to save money on these. Heres what you can do right now to save money on these everyday bills and expenses.

Continue read on

With the majority of Americans living paycheck to paycheck and dealing with rising utility expenses, covering monthly bills these days can be a challenge....
Logo NasdaqNasdaq
2023-10-03 16:00:19  • 1 min
American citizens are sinking further into debt this year, with a significant increase in the amount of credit used and the time taken to pay it off,...
2023-10-03 13:39:19  • 1 min
With inflation on the rise in recent years, its no surprise that many Americans are taking a closer look at their retirement accounts and feeling uneasy...
Logo NasdaqNasdaq
2023-10-03 12:00:52  • 1 min
Key Points The stockpile of cash most people hoarded during the pandemic is now largely gone. Yet, consumers remain remarkably resilient, which has helped...
2023-10-03 16:18:32  • 1 min
If you're like many people, you're burning through cash like crazy. Overspending is never advisable, but this can be especially problematic if your money...
Logo NasdaqNasdaq
2023-10-02 16:27:26  • 2 mins
In early September 2023, GOBankingRates conducted a survey of 1,037 adult Americans regarding their savings habits. Results were analyzed collectively and by...
Logo NasdaqNasdaq
2023-10-03 15:00:11  • 1 min
If youre looking to buy a home in the near future, there is finally some good news for buyers: Home prices are falling around the country. After the...
Logo NasdaqNasdaq
2023-10-03 16:00:07  • 1 min
Households could soon have to pay up to 44 per cent more for water, with some paying almost 200 extra a year. Proposed bill increases over the next five...
Logo Daily MailDaily Mail
2023-10-03 15:07:53  • 1 min
For over a decade, Keely Smith enjoyed being an interior design expert and artist at Home Stratosphere, a design studio in North Vancouver, BC. Her work in...
Logo NasdaqNasdaq
2023-10-03 18:01:49  • 1 min
Retirement planning is inherently difficult for Americans. More than half of Americans live paycheck to paycheck, making it hard to find extra money to sock...
Logo NasdaqNasdaq
2023-10-02 14:30:43  • 2 mins
Increased living costs are continuing to impact employees' overall financial picture and salary increases aren't keeping pace, leaving employees further...
Whether you're already retired or are thinking about leaving the workforce in the future, there are certain retirement mistakes you cannot afford to make...
Logo NasdaqNasdaq
2023-10-03 11:30:00  • 2 mins
Each year, the federal government purchases about 50,000 new vehicles. Until recently, almost all of them ran on diesel or gasoline, contributing to U.S....
Logo The Conversation USThe Conversation US
2023-10-03 12:31:31  • 1 min
That financial budgeting app you dutifully follow gives a snapshot of your finances but maybe not the big picture. Just because you stay on budget and even...
Logo NasdaqNasdaq
2023-09-30 12:00:02  • 2 mins
Many women want to save money but feel like they dont have the resources to do so. According to a recent GOBankingRates survey, the biggest barrier women...
Logo NasdaqNasdaq
2023-10-03 16:00:01  • 2 mins
Many Americans fear that Social Security is running out of money for good. However, while Social Security is underfunded, its not going away anytime soon....
Logo NasdaqNasdaq
2023-10-02 18:00:17  • 1 min
Key Points Climate change is expected to impose "substantial financial costs" on U.S. households in the coming years. In a new Treasury Dept. report,...
2023-10-02 17:25:33  • 1 min
By many measures, the U.S. economy is thriving : Unemployment stands close to the 50-year low set in April, the fraction of people aged 25 to 54 in work is...
The growing burden of rising gasoline prices and higher interest payments are impacting American consumer spending, with the share of income allocated to...
2023-09-29 16:47:23  • 1 min
Modern America was built around the automobile, and its nearly only possible to get around with one in many cities. Car payments, insurance and filling up at...
Logo NasdaqNasdaq
2023-09-30 16:00:08  • 1 min