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America’s Top 4 Money Worries for 2024

Woman with an empty wallet
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As a new year dawns, some Americans might feel like things are looking up in their financial lives. Inflation has started to subside, and a long-expected recession has failed to materialize — at least for now.

But even if things might be improving in some ways, we all likely harbor at least a few anxieties about how 2024 will impact our individual wallets.

Recently, Fidelity Investments polled more than 3,000 adults as part of its “2024 Financial Resolutions Study.” The company asked participants to list their biggest money worries over the next 12 months.

Following are the top anxieties they mentioned.

4. Not saving enough in an emergency fund

Building a rainy day emergency fund
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Respondents who cited this as a top financial concern for 2024: 25%

When times turn tough, it’s good to having a pot of savings you can turn to. Unfortunately, many Americans barely have two nickels in their emergency fund.

Fortunately, a new year offers a perfect opportunity to resolve to start saving. For tips, check out “9 Tips for Starting an Emergency Fund Today.”

3. Economic uncertainty

Seniors stress in a recession
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Respondents who cited this as a top financial concern for 2024: 33%

Yes, there are positive signs in the economy, especially in terms of ebbing inflation. But many experts still believe a recession is just over the horizon.

Others worry that the nation is drowning in debt. And of course, 2024 is a presidential election year, with all the potential for turmoil that implies.

These factors and more have left some folks worried about economic uncertainty in 2024. If you are among them, prepare yourself by reading “9 Ways to Brace Your Finances for a Recession.”

2. Unexpected expenses

Two drivers examine damage after a car accident.
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Respondents who cited this as a top financial concern for 2024: 37%

Regardless of the state of the economy — good or bad — life has a habit of dropping unexpected expenses into your lap when you can least afford them.

Surprise expenses are particularly unwelcome when you are retired and no longer have a paycheck coming in. If you are retired — or if you plan to stop working in 2024 — check out “6 Expenses That Today’s Retirees Underestimated.”

1. Inflation

Woman holding an empty wallet
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Respondents who cited this as a top financial concern for 2024: 40%

By and large, the news on inflation has been increasingly good, as the trend toward higher prices appears to be cooling.

Many people are getting the message: The most recent University of Michigan consumer sentiment survey found that Americans are much less worried about inflation than at any time since March 2021.

But prices are still running hotter than most people would like, and a large minority of Americans still are worried about the potential for inflation to singe their wallets in the new year.

With any luck, inflation will moderate in 2024. But for now, fight back against higher prices by listening to Money Talks News founder Stacy Johnson discuss the “10 Sure-Fire Ways to Beat Inflation.”

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