Debt, expenses stress lower income households: AP-NORC poll

2023-03-24 14:09:11  • 5 mins

NEW YORK Personal finances are a major source of stress for about half of the lower income households in the U.S., a new poll shows, illustrating the toll of high inflation and economic uncertainty on those who can least afford it.

About half of U.S. adults in households earning less than $60,000 annually and about 4 in 10 of those in households earning $60,000 to $100,000 say they're very stressed by their personal finances, according to the new poll from The Associated Press-NORC Center for Public Affairs Research. That compares with only about a quarter of those in higher income households.

Beverly Lucas, 76, of Cary, North Carolina, said she sees how inflation has hemmed in the lives of her fellow seniors on fixed incomes.

Theres no comfort zone in their finances no vacation. Theyre just getting by, she said. Medications are expensive. Groceries. No ones living large or having fun. They should be having fun.

Lucas, a retired Christian education teacher who lives off social security and a pension, said she is moving to downsize and save $500 a month. If she had stayed in the two-bedroom where she had lived, she said, her expenses would have gone up this year.

Continue read on

Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide SEOUL :...
For new college graduates, receiving that first post-degree paycheck can be almost as exciting as getting the diploma itself. But it also presents a...
Logo NasdaqNasdaq
2023-06-08 20:55:51  • 1 min
The Federal Reserve has been trying to slow growth without tanking it. Now, officials must ask if inflation can cool amid signs of resilience. Employers are...
Logo The New York TimesThe New York Times
2023-06-08 13:07:33  • 1 min
The Bridgewater Associates founder said the American economy was facing a risky situation.
Logo FortuneFortune
2023-06-08 14:56:48  • 1 min
Key Points This spring, affluent Americans felt relatively pessimistic about the economy, with several perceived threats to personal wealth, according to...
2023-06-07 13:30:01  • 1 min
ALBUQUERQUE, N.M. (AP) Mind-blowing is how legislative analysts describe New Mexico s budget numbers, saying during a briefing Thursday that projected...
Logo U.S. News & World ReportU.S. News & World Report
2023-06-09 00:57:56  • 1 min
Key Points The supply of homes for sale in the U.S. is about half of what it was in 2019. The shortage is hitting some buyers more than others, based on...
2023-06-08 17:39:31  • 2 mins
While many people worry about the death of cash, the younger generation is more than happy to only spend on cards. Alicia Lambert, 12 (spending a day work...
Logo Daily MailDaily Mail
2023-06-08 06:00:46  • 2 mins
South Korea posted a current account deficit of $0.79 billion in April, the Bank of Korea said on Friday. That exceeded expectations for a shortfall of $1.38...
Logo RTTNewsRTTNews
2023-06-08 23:17:55  • 1 min
Nearly half of middle aged people are anxious about handling their parents' money once they are no longer able to cope, a cross-generational study has found....
Logo Daily MailDaily Mail
2023-06-08 05:00:49  • 2 mins
Prospective homebuyers arent feeling very confident about purchasing a home in a market plagued by inflation and high mortgage rates, according to new...
Logo NasdaqNasdaq
2023-06-08 20:37:33  • 1 min
(RTTNews) - Markets in Europe are expected to open on a weak note on Thursday ahead of key monetary policy reviews in the next week. Bank of Canada's...
Logo NasdaqNasdaq
2023-06-08 06:16:37  • 2 mins
Dutch household spending growth weakened further in April, data from the Central Bureau of Statistics showed on Wednesday. Household consumption increased...
Logo RTTNewsRTTNews
2023-06-07 12:14:03  • 1 min
LOS ANGELES (AP) The average long-term U.S. mortgage rate eased back from a seven-month high this week, a welcome change for homebuyers navigating high...
Logo U.S. News & World ReportU.S. News & World Report
2023-06-08 16:17:10  • 2 mins
Key Points Target warned last month of sluggish sales, and Dollar General's stock plunged on June 1 after the discount retailer slashed its full-year...
2023-06-08 17:54:50  • 2 mins
Key Points As high inflation continues, the financial strain on many households has worsened. For those feeling financial stress, there are several ways to...
2023-05-30 12:00:01  • 1 min
The Treasury Department runs the Emergency Capital Investment Program, which provided close to $9 billion in capital to community development financial...
Logo American BankerAmerican Banker
2023-06-09 00:53:20  • 1 min -- Bank borrowing from the Federal Reserves emergency programs inched higher in the week ended Wednesday, with lending from the Fed's emergency...
2023-06-08 21:02:23  • 1 min
HPC analysts say that between 2000 and 2021, the premium payments Mass. employees must make for their workplace-sponsored health insurance plans grew by 295%.
Logo The Business JournalsThe Business Journals
2023-06-08 09:42:55  • 1 min