Inflation-stricken US households struggle to save

The cost of living continues to impact America's households, resulting in Americans struggling to save money.

All income categories had less money left over after paying monthly expenses, according to Morning Consult's Household Finances & Spending survey in July. After covering their monthly expenses, less than 40 percent of households earning less than $50,000 reported having money left over. Comparatively, this is down 6 percent.

About 60% of households making $50,000 to $99,999 left over money, down from nearly 70% in July 2021. After paying their expenses, nearly 80% of Americans with incomes above $100,000 had leftover money, which is 5 percent less than a year ago.

24 August 2022