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Most Americans are concerned about higher health care costs next year, an AP-NORC poll finds

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  Published in Health and Fitness on Wednesday, October 22nd 2025 at 17:30 GMT by Action News Jax
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Most Americans Are Struggling With Rising Costs and Uncertain Savings, Survey Finds

A new survey released in early October has shed fresh light on the financial anxieties that dominate everyday life for the average U.S. household. According to the findings, a striking majority of Americans—over 70 %—express concern over the escalating cost of living, while nearly half report that their current savings are insufficient to cover a one‑month emergency. The research, commissioned by a national research firm and reported by Action News Jax, underscores the mounting pressure that inflation, stagnant wages, and a volatile job market place on households across the country.

1. Key Takeaways From the Survey

The most alarming revelation is that nearly half of the respondents stated they have less than a month’s worth of liquid savings—a figure that has risen from 35 % in the 2022 survey. The research also highlighted a stark divide along income lines: lower‑income households (earning below $50 k annually) are twice as likely as their higher‑income counterparts to report a lack of savings, with 63 % of that group saying they have less than three months of expenses saved.

2. Understanding the Drivers of Financial Stress

Inflation and Price Hikes
The Federal Reserve’s current target of a 2 % inflation rate seems to be a distant memory for many respondents. While headline CPI data shows a slower rise compared to the peak of 2022, the survey indicates that the perceived inflation is still high. Food, energy, and housing costs are cited as the most significant contributors. For example, 68 % of respondents noted that grocery prices had increased by more than 10 % in the past year, while 55 % felt their utilities (electricity, gas, water) had similarly risen.

Stagnant Wages
Only 12 % of participants reported a wage increase in the last 12 months, with most of those gains being in the form of short‑term bonuses rather than long‑term salary adjustments. This wage‑stagnation dynamic is especially pronounced among younger workers (aged 25‑34) who report a 15 % higher likelihood of financial strain compared to those over 55.

Job Market Uncertainty
Nearly two‑thirds of respondents say that the uncertainty in the job market has impacted their confidence in long‑term financial planning. The survey found a direct correlation between job insecurity and the tendency to forego saving or investment in favor of short‑term consumption or debt repayment.

3. Impact on Household Decision‑Making

Cutting Discretionary Spending
The majority of respondents plan to trim discretionary expenses—such as dining out, entertainment, and travel—over the next 12 months. This is in line with a broader national trend toward “frugality” among households that are already living near the edge of their budgets.

Debt Accumulation
Half of respondents reported that they had incurred new debt to cover rising expenses. Credit card debt surged by 6 % in the first quarter of the year, and student loan payments remain a top source of stress, especially for those in the 35‑44 age bracket.

Investment Shifts
Despite the economic uncertainty, 42 % of respondents indicated that they had begun or continued investing in low‑cost index funds, reflecting a small but growing willingness to engage with long‑term wealth building even in a turbulent environment. However, the majority (58 %) still rely primarily on savings accounts or short‑term cash reserves.

4. Expert Insights

Financial Planner Emily R. Navarro points out that the “low‑balance” crisis—where households maintain insufficient liquid reserves—can have ripple effects on broader economic resilience. “If people are scrambling for a one‑month cushion, they are also less likely to be able to weather future shocks, such as a sudden job loss or a medical emergency,” she explains.

A policy analyst at the Brookings Institution added that the current tax environment and stimulus programs have not sufficiently reached the middle and lower income brackets. “Policy reforms, especially around tax credits for low‑income families and more robust housing assistance, are essential to mitigate the growing financial distress highlighted in this study.”

5. Action News Jax Follow‑Up

In an effort to provide readers with more actionable information, the article links to two key resources:

1. The Original Survey Data – A downloadable PDF containing full methodology, sample size, and detailed breakdowns by demographic group. This resource is invaluable for researchers, policymakers, and anyone interested in the granular data behind the headline figures.
2. Government Financial Assistance Programs – A guide to the latest federal programs aimed at helping low‑income households, including the Supplemental Nutrition Assistance Program (SNAP), the Affordable Care Act’s premium tax credits, and emergency Medicaid expansion options. The guide offers step‑by‑step instructions on how to apply and the eligibility criteria.

Readers are encouraged to consult these documents for a deeper understanding of how national policy and local initiatives intersect to shape the financial landscape for Americans.

6. Looking Ahead

The survey’s findings illuminate a growing crisis of financial insecurity that could have lasting implications for consumer spending, savings rates, and overall economic health. While certain sectors—particularly the technology and service industries—continue to post growth and wage gains, the benefits remain unevenly distributed.

The question remains: will government policy, employer benefits, and individual financial planning align quickly enough to reverse the tide of anxiety? Only time, along with targeted action and sustained dialogue, will tell.

For those navigating the tightrope between everyday expenses and long‑term stability, the survey offers a sobering snapshot: the majority of Americans are at a crossroads, with urgent needs that demand clear, timely solutions.