Many Americans Struggling to Pay for Basic Needs

More Americans are having trouble paying for basic things like food and rent. A new survey shows that 67% of Americans worry about money every day. Food prices have gone up 40% in just one year, and rent costs 54% more than it did in 2017. Many families are finding it hard to afford the things they need to live.

The cost of living has gotten much higher in recent years. Gas prices are now over $4.50 per gallon in many places. Companies are also making products smaller while keeping prices the same. This means people get less for their money.

A recent poll found that 55% of Americans say their money situation is getting worse. This is the highest number since 2001. More people feel worried about money now than during the 2008 recession or even during the pandemic. Two-thirds of Americans have had to skip social events like birthday parties and weddings because they cost too much money.

The gap between rich and poor people has grown very large. The top 10% of Americans own almost 95% of all stocks. Nearly half of Americans have $0 saved for retirement. The richest 0.1% of people have about the same amount of money as the bottom 90% combined.