Americans concerned about their financial futures 

Most say that household debt is either rising or not going away.

An AP-NORC Poll shows that most adults are experiencing increased household debt and expenses without a similar rise in income or savings. 

WHY IT MATTERS – Polls repeatedly show that the rising cost of living is the most important issue voters.   

THE NUMBERS – An AP-NORC Poll conducted October 5-9, 2023 with 1,163 adults nationwide revealed that two-thirds of adults say their household expenses have risen over the last year, but only about a quarter have also seen their income increase during the same period. When asked about whether their household expenses have increased, stayed the same, or lowered: 

  • 69% said they increased 
  • 22% said they stayed about the same 
  • 8% said they lowered 

When asked whether their household debt has increased, stayed the same, or lowered:  

  • 40% said it increased  
  • 39% said it stayed about the same  
  • 20% said it lowered  

When asked whether their household income has increased, stayed the same, or lowered: 

  • 23% said it increased 
  • 48% said it stayed about the same 
  • 28% said that it lowered 

THE BOTTOM LINE – Americans worry they will not be able to meet their household expenses with their current earnings, as expenses begin to outpace take-home income.  

GO DEEPER – Many are uncertain about their financial futures as household expenses outpace earnings