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