Insights » Americans still worried about financial health in 2024

New Report: 7 in 10 Americans Worried About Their Financial Health

doxoINSIGHTS’ new report, Consumer Sentiment Towards Paying Bills, shows that while 65% of Americans feel somewhat relieved by an improving economy, 70% are still worried about their financial health.

The report analyzes consumer attitudes toward their past and future financial health, how Americans feel about the state of the economy, and their ability to pay household bills heading into this new year.

Our survey found an alarming number, 85% of consumers, are just as worried or more worried about their ability to pay household bills as they were last year. And 58% of consumers believe that they could only pay their bills for 3 months without their household’s primary source of income.

Key findings from consumer sentiment towards paying bills:

Looking Back: Financial Health in 2023

• 82% of consumers found it hard to stay on top of household bills due to the rising cost of groceries over the past year
• 65% of consumers received a salary increase of 1% or less over the past year
• 74% of consumers made changes to their spending and savings habits over the past year

Looking Forward: Financial Health in 2024

• 65% of consumers feel at least somewhat relieved that inflation appears to be cooling
• 70% of consumers are worried about their financial health as they head into the new year
• 60% of consumers said it would take more than six months until their own household’s financial health improves

Paying Bills in the New Year 

Utilities top the list of household bills that consumers are most concerned about paying in the future. The percentage of people concerned about being able to pay the ten most common household bills include the following:

• Utilities: 58%
• Auto Insurance: 50%
• Cable & Internet: 46%
• Mobile Phone: 45%
• Health Insurance: 41%
• Auto Loan: 28%
• Mortgage: 27%
• Rent: 24%
• Alarm & Security: 21%