NEW POLL: Many Americans Say Their Household Expenses Are Outpacing Earnings This Year
October 27, 2023 10:00AM PDT
FILE – Credit cards as seen July 1, 2021, in Orlando, Fla. Many Americans say their household expenses are outpacing earnings in 2023 according to a new poll from AP-NORC Center for Public Affairs Research. (AP Photo/John Raoux, File)
NEW YORK (AP) — About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period.
That’s according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
As household expenses outpace earnings, many are expressing concern about their financial futures.
What’s more, for most Americans, household debt is rising or not going away.
About half say they currently have credit card debt, 4 in 10 are dealing with auto loans, and about one in four have medical debt.
Just 15% say their household savings have increased over the last year.
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