CNBC | SurveyMonkey Your Money April 2025

Key findings:

Seven in ten (73%) Americans feel stressed about their finances today

The majority (73%) of Americans feel ‘very or somewhat’ stressed about their personal financial situation, with lower income Americans experiencing higher levels of stress (79% for those making $50k or less annually) than higher annual household incomes (74% and 67% for $50-$99k and $100k or more, respectively.

Two months into Donald Trump’s presidency, slightly more than four in ten (43%) of Americans approve of the president’s overall impact on their financial situation, behind 55% who disapprove. Nearly three in four (72%) express concern over the impact of Trump’s tariffs, with half (56%) believing they will negatively impact on their personal financial situation. Support for tariffs is also mixed, with more than half (59%) of Americans opposing the presidents’ proposed or enforced tariffs.

Americans are split on whether or not tariffs will increase manufacturing jobs in the US: 37% believe the newly-enacted tariffs will increase the number of manufacturing jobs, while 38% say such a tactic will be ineffective.

Americans are cutting back on non-essentials, while increasing spend on groceries and housing

Overall, one in three Americans (33%) have seen their net spending increase in the last 12 months, while one in four (23%) saw a net decrease in overall spend, and four in ten (40%) saw no change. Despite the relative stability in net spending, four in five (78%) have cut back on purchases in at least one category, including 75% who cut back on non-essential categories (eating out, entertainment, clothing and personal items, travel, and hobbies), and 45% who cut back on essential spending (groceries, transportation, housing and utilities, and healthcare).

Among non-essential categories, Americans are cutting back on:

Among essential categories Americans are reducing spending on:

Two in three (65%) Americans have increased spending in at least one category, with 58% increasing spending in essential categories, and 30% in non-essential categories, including:

Less than one in five have increased spending in individual non-essential categories, including:

Nearly all Americans cite inflation as a top financial stressor, while high interest rates, tariffs, and layoffs loom

An overwhelming nine in ten (86%) of Americans cite inflation, or rising prices, as a cause of financial stress for them, followed closely by three in four (75%) citing high interest rates. Two in three (66%) cite tariffs, and half (51%) cite layoffs. 

While slightly less than half (46%) of those with investments have made no changes to their investments, assets, or portfolios, 41% have either reallocated or adjusted their investments (19%), decreased their investments (14%), or increased their investments (9%).

Half of Americans (47%) have delayed or sped up purchases due to the tariffs; 32% have either delayed or avoided any purchases, while 15% have stocked up or made purchases due to tariffs. Half (51%) have not changed any of their purchasing behavior.

Half (48%) believe it is ‘very likely’ that the US is heading towards a recession, while one in four (27%) think it is ‘somewhat likely’. Only 24% think that a recession is ‘not too likely’ or ‘not likely that all’. Sentiment is largely split among partisan lines: only 50% of Republicans foresee a recession, compared to 93% of Democrats, and 81% of Independents.

Methodology: This SurveyMonkey study was conducted April 3, 2025 to April 7, 2025 among a sample of 4,200 adults in the US. Respondents for this survey were selected from a non-probability online panel. The modeled error estimate for this survey is plus or minus 1.5 percentage points. Data have been weighted for age, race, sex, education, and geography using the Census Bureau’s American Community Survey to reflect the overall demographic composition of the United States.

More Americans feel they are worse off now than they were one year ago when it comes to groceries prices, the stock market, and the overall economy

Two in three (68%) Americans say grocery prices have worsened over the past year, with only 18% saying they remained about the same, and only one in ten (11%) cite an improvement. Similarly, half (50%) believe the stock market is worse off now than a year ago, compared to 30% who see no change, and 16% who see an improvement. More than half (56%) say the economy has worsened over the last year, nearly three times higher than those who say it has stabilized (21%) or improved (20%). 

One in four Americans feel like their job security has worsened (28%), while half see no change (49%), and one in five (18%) saw improvement.

The majority (62%) of Americans are ‘very or somewhat concerned’ about Donald Trump’s cuts to the federal workforce and budget on their current or potential Social Security payments, with concern similar across age groups: 60% of Gen Z and Millennials are concerned, compared with 63% of Gen Xers, and 66% of Boomers.

Nearly half (45%) of Boomers (ages 61-79) expect Social Security payments to cover all or most of their expenses in retirement, higher than 39% of Gen Xers, 29% of Millennials, and 25% of Gen Zers.

When asked how much they would have to make annual to feel financially comfortable, half of Americans (54%) cited at least $100k annually or more; one in three only need between $50 and $99k, and one in ten (11%) are fine with less than $50k a year.