Financial Well-Being Declined in 2024

November 24, 2025

A survey of financial capability conducted every three years found a substantial decline in many key measures from 2021 to 2024, a period of high inflation. Two-thirds of U.S. adults said that higher food expenses had caused them to cut back on other spending, and one in four reported spending more than their income. The percentage who said it was not difficult to cover expenses and pay bills dropped significantly, as did the percentage who were satisfied with their personal financial condition.



It's noteworthy that the highest point in both measures over the past 15 years came in 2021, a time when government stimulus payments and lower spending during the pandemic led to higher saving rates.

Bar graph comparing financial difficulty and satisfaction from 2009-2021. Blue bars show difficulty; green shows satisfaction. A person is in the background.

All Securities Through Money Concepts Capital Corp., Member FINRA / SIPC

11440 North Jog Road, Palm Beach Gardens, FL 33418 Phone: 561.472.2000

Copyright 2010 Money Concepts International Inc.

Investments are not FDIC or NCUA Insured

May Lose Value - No Bank or Credit Union Guarantee

This communication is strictly intended for individuals residing in the state(s) of MI. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2020.

Two people relaxing in wooden chairs on a seaside deck, drinking and facing the ocean.

Is It Time to Declare Your Financial Independence?

By TFC Center • June 26, 2026
Learn how to build financial independence by earning more, spending wisely, and saving aggressively to work toward your long-term goals.
Woman in a beige blazer working on a laptop at a bright office desk by a window

The Employment Situation: A Closely Watched Report

By TFC Team • June 26, 2026
Learn how the monthly jobs report measures employment, unemployment, wages, and hours worked, and why it matters for markets and Federal Reserve policy.
Person in a blue apron smiling in a bright workshop or café setting

Understanding the "No Tax on Tips" Deduction

By TFC Team • June 26, 2026
Learn about the new federal deduction for tipped workers, including who qualifies, income limits, reporting rules, and how it may affect 2025 to 2028 taxes.
Container ship sailing on a blue ocean under a bright sky

Tariffs Helped Drive Decline in Trade Deficit

By TFC Team • June 26, 2026
Tariffs helped reduce the U.S. trade deficit in '25 & '26. Imports fell after a stockpiling surge, while the trade deficit dropped as the services surplus grew.
Show More