From CNBC: 2024-04-03 00:01:01

A new survey reveals that roughly half of adults in various major economies are stressed about personal finances, with inflation being a key factor. Many feel worse off financially than their parents and are pessimistic about their children’s financial future.

Despite traditionally being considered financially comfortable, between 45% and 62% of middle-class individuals in surveyed countries describe themselves as “living paycheck to paycheck.” Inflation, lack of savings, economic instability, and rising interest rates are cited as sources of financial stress.

In Australia, Germany, and the U.K., half of adults say they are worse off financially compared to five years ago. However, only adults in Singapore and Mexico feel more financially secure than their parents.

Global economic growth is slowing, yet developed economies have avoided forecasted recessions amid high inflation and interest rate hikes. Consumers are feeling the impact of price rises in household bills and everyday goods, leading to widespread financial stress.

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