Despite the U.S. economy's recent turnaround, 50 percent of Americans are concerned about multiple common financial challenges, up slightly from 49 percent in 2014. Nearly half of Americans are worried about affording basic medical costs, according to Gallup's Financial Worry Index.
Although this year's measure is down from the 56 to 61 percent range reported during the recession beginning in 2008 through 2012, it is higher than the years preceding the recession.
Gallup has tracked American's worry on seven financial issues since 2001 as part of its annual Economy and Personal Finance survey. This year's survey was conducted from April 9 to 12.
10 key findings from the survey are shown below.
- The majority of Americans (60 percent) were very or moderately worried about having enough money for retirement.
- 55 percent of Americans were very or moderately worried about not being able to pay medical costs of a serious illness or accident.
- 46 percent were very or moderately worried about not being able to maintain the standard of living they enjoy.
- 42 percent were very or moderately worried about not being able to afford medical costs for normal healthcare.
- 36 percent were very or moderately worried about not being able to pay normal monthly bills.
- 32 percent were very or moderately worried about not being able to pay rent, mortgage or other housing costs.
- 20 percent were very or moderately worried about not being able to make the minimum payments on their credit cards.
- Approximately one in four Americans are considered high worriers, meaning they are very or moderately worried about six or seven of the seven financial concerns.
- Adults in households earning less than $30,000 annually were consumed with financial anxiety, with 44 percent concerned about six or seven issues.
- Women and nonwhites worry significantly more than men and non-Hispanic whites about financial challenges.