![]() 40% of people with debt said they’re either struggling or in crisis with their money compared to 22% of those with no debt.A sizeable majority of married couples (64%) said they’ve completely combined their finances and only use shared bank accounts.However, Gen Z cardholders are more likely to have an overdue balance (36%) than baby boomers (8%). Only 23% of Gen Z said they use credit cards for everyday purchases like groceries and regular bills.Surprisingly, Americans are almost even about whether people should tip regardless of service (53% shouldn’t vs. And 63% said they feel pressure to tip where a tip was usually unnecessary, while 66% said they feel guilty when they don’t tip. Americans overwhelmingly agreed tipping requests are on the rise (82%). 67% of Americans believe tipping is out of control.And of those Americans who are taking vacations, one-quarter are planning to spend less than normal. That’s down almost 9% from the same time last year. Just over half of Americans (53%) said they’re planning to take a vacation this summer.Not surprisingly, a similar number of Americans (33%) said they believe they can become millionaires. Only 36% of Americans agreed they’re winning with money.That’s an almost 22% decline from Q2 of 2022 and a two-year low. 38% of homeowners are having issues paying their mortgages.The number of Americans having difficulty making their monthly rent is still significant (50%), but that’s a drop of 22% since the high of Q3 of 2022 (64%).That’s an increase of almost 10 percentage points each since Q2 of 2022. Almost 60% of Americans said they don’t have trouble paying their bills, and almost 70% said they don’t have difficulty paying for food.About a third of Americans (30%) said they’re either struggling or in crisis with their personal finances, down nearly 19% from Q3 of 2022.The first edition of The State of Personal Finance for 2023 unpacks this development in the data and investigates possible factors that may be contributing to it. One possible explanation for this disagreement: Americans might just be surviving-not thriving. ![]() But this improvement conflicts with the increasing number of Americans who said things aren’t getting better for them financially. Despite record levels of stubborn inflation, fewer people said they struggled to make ends meet in the first quarter of 2023 compared to previous reports. It’s a strange time in America for personal finance. ![]()
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