Financial Stress Rises Globally Amid Inflation Concerns: Survey

In a survey conducted by SurveyMonkey for the International Your Money Financial Security Survey, at least half of adults in various major economies expressed stress over their personal finances, citing inflation as a primary factor. Many also expressed feeling financially worse off than their parents and harboring pessimism about their children's financial prospects.

In countries such as the U.S., Australia, Spain, and Mexico, approximately 70% of adults reported feeling "very or somewhat stressed" about money. The percentage slightly decreased to 63% in the U.K., 57% in Germany, 55% in Switzerland, and roughly half in Singapore and France.

Despite the traditionally comfortable status associated with the middle class, between 45% and 62% of those identifying as such described themselves as "living paycheck to paycheck" across surveyed countries, except for the U.K., where it was 37%.

Inflation emerged as a common cause of financial stress globally, alongside insufficient savings, economic volatility, and rising interest rates.

The survey, which polled 4,342 adults, was conducted in March and released recently.

SurveyMonkey CEO Eric Johnson remarked, "The health of the global economy, though muted in some areas, is not being reflected in the perceptions of the average person ... Despite the performance of the economy writ large, roughly half of adults are stressed about their personal finances in every country studied around the world."

Although global economic growth is slowing, most developed economies have avoided predicted recessions amid high inflation and interest rate hikes. Despite resilient labor markets, consumer sentiment remains grim due to rising prices in essential goods and household bills.