At least half of adults in a number of the world's major economies reported feeling stressed about personal finances, and cited inflation as a leading cause. This is reported in a study conducted by SurveyMonkey.
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A significant number of respondents also say they feel worse off financially than their parents and are pessimistic about their children's financial future.
In the US, Australia, Spain and Mexico, about 70% of adults said they “very or somewhat concerned” about money. The same figure in the UK is 63%, in Germany – 57%, in Switzerland – 55%, in Singapore and France – about 50%.
In these countries, from half to two thirds said that they consider themselves part of middle class. Despite the fact that the middle class is traditionally considered financially comfortable, from 45% to 62% of those who classified themselves in this group noted that they “live from paycheck to paycheck.”
Half of adults in Australia, Germany and the UK said that their financial condition was worse than five years ago.
The source of financial stress most often cited in the survey was inflation, as well as a lack of savings, economic instability and rising interest rates.
The study was conducted among 4,342 adults in March this year.