National Study Finds More U.S. Households Struggling Financially Despite Stable Incomes

Recent studies and reports from various parts of the world highlight widespread financial difficulties among households despite some regional differences. In the U.S., the 2024 FINRA National Financial Capability Study shows that although financial knowledge remains steady, fewer adults are satisfied with their financial situation, with more people spending beyond their means and fewer paying off credit cards fully, while savings for emergencies and retirement remain inadequate, especially among those without college degrees. In New York City, a report reveals that a significant portion of older adults struggle to pay bills, access healthy food, and secure stable housing, with many experiencing age discrimination and caregiving burdens. Similarly, in Oxfordshire, UK, even full-time workers are unable to afford basic hygiene products, relying on charitable support. Contrastingly, in Australia, easing price pressures have led to increased household spending on non-essential items and improved consumer confidence, with expectations of interest rate cuts. Meanwhile, South African households are also facing challenges in saving money, with the household saving rate continuing to decline.