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.

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