A new report supports what financial experts have long suspected - Americans are having a hard time paying their bills as costs rise across the board.
Only two-thirds of U.S. households paid all their bills on time over the past year, according to a September survey from nonprofit Financial Health Network.
“The nation’s households experienced a modest but widespread decrease in financial health between spring 2025 and spring 2026,” the report said. “More households became financially vulnerable, struggling to save money, pay bills, and repay debts.”
Unpaid bills suggests that households have less cash on hand, and are prioritizing basic needs.
Respondents also said they felt more financially vulnerable than they did a year earlier - 17 percent compared to 15 percent in 2025.
That increase was more severe with student loan borrowers whose sense of financial vulnerability rose to 27 percent - up 6 per cent from last year.
A separate 2026 survey, from financial services firm Self Financial, found that 89 percent of Americans are living or have lived paycheck-to-paycheck over the past year. One-third said they have no money left at the end of the month after spending their wages on necessities and bills.
It has been a year of economic upheaval for Americans as costs rise due to President Donald Trump’s war with Iran and widespread tariffs.
On Thursday, gas cost an average of $4.48 a gallon - $1.32 higher than a year ago. Inflation rose to a four-year high before falling to 3.4 percent last month, according to September data from the Bureau of Labor Statistics.
Consumer sentiment on the economy fell for the second straight month in September, according to a University of Michigan study.
“Year-ahead expectations for both personal finances and business conditions plunged. With a resurgence in fuel prices and trade tensions, consumers anticipate greater pressures on their pocketbooks to come,” University of Michigan researchers said.
That outlook not improve in the coming months after the Federal Reserve announced a 0.25% interest rate increase earlier this month. The decision will likely drive up the rate consumers will pay for mortgages, auto loans and more.
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