Poll: Debt, expenses stress lower income households

Personal finances are a major source of stress for about half of the lower income households in the U.S., a new poll shows, illustrating the toll of high inflation and economic uncertainty on those who can least afford it, according to an Associated Press report.

About half of U.S. adults in households earning less than $60,000 annually and about four in 10 of those in households earning $60,000 to $100,000 say they’re very stressed by their personal finances, according to the new poll from The Associated Press-NORC Center for Public Affairs Research. That compares with only about a quarter of those in higher income households.

About three-quarters of adults across income groups say their household expenses are higher now than they were a year ago, but those in households earning less than $100,000 a year are more likely than those in higher income households to say they also have higher debt. Those facing a combination of rising debt and expenses overwhelmingly say their financial situation is a major source of stress.