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Politics : Formerly About Advanced Micro Devices

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To: Wharf Rat who wrote (1398636)	4/11/2023 8:44:33 PM
From: Sdgla	Read Replies (1) of 1583090

70% of Americans are feeling financially stressed, new CNBC survey finds PUBLISHED TUE, APR 11 20236:00 AM EDTUPDATED 5 HOURS AGO cnbc.com Inflation, economic instability and a lack of savings have an increasing number of Americans feeling financially stressed. Some 70% of Americans admit to being stressed about their personal finances these days and a majority — 52% — of U.S. adults said their financial stress has increased since before the Covid-19 pandemic began in March 2020, according to a new CNBC Your Money Financial Confidence Survey conducted in partnership with Momentive. Anxious and uncertain about whether they can get a better handle on their money, some may be intimidated by the prospect of creating a budget or unsure of where to stash their cash to get the highest returns. Others may be wondering how to begin saving for retirement when they’ve gotten off to a late start. “People are worried that the money they’ve saved won’t last and are worried they’re going to have to lean more on their credit cards and other sources of debt just to get by,” said Bruce McClary, a senior vice president at the National Foundation for Credit Counseling. Higher expenses The cost of the basic household expenses — rent, groceries and utilities — are all higher than a year ago, weakening consumers’ purchasing power. Nearly 60% of respondents cited inflation as the main contributor to their financial stress, followed by economy-wide instability (43%), rising interest rates (36%) and a lack of savings (35%), according to the survey of 4,336 adults, which was conducted at the end of March.

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