Financial stress on the rise among American workers, Bank of America survey finds

Jakarta, Pintu News – A recent survey conducted by Bank of America (BofA) revealed that workers in the United States are increasingly feeling stressed about their personal finances and debt burden.

The survey of 1,000 full-time workers in May showed a significant decline in the sense of financial well-being, with only 47% of workers feeling financially well-off, down from 52% at the start of the year. This was compounded by the fact that around 85% of respondents admitted to having personal debt.

Decline in Financial Wellbeing

Economic uncertainty seems to be the main factor affecting the declining sense of financial well-being among American workers. From the survey conducted, it was noted that only less than half of the total respondents still feel financially well-off. This represents a fairly drastic decline in recent months.

In addition, the survey also showed that many workers feel the need to seek help to manage their debt. A total of 26% of total respondents are actively seeking solutions to reduce debt, increase emergency savings, and improve their overall financial condition. This figure represents a doubling compared to two years ago, signaling a higher level of concern for financial stability.

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Short-term Optimism, Long-term Concerns

While many workers are feeling stressed about their current financial situation, a Bank of America survey found that most are still optimistic about their financial prospects in the next three years. Around 70% of respondents expressed optimism about their future financial condition, although this confidence did not last long.

However, when asked about further projections, their confidence began to waver. A total of 77% of respondents expressed concerns about the US economy in general, indicating significant uncertainty about the future of the economy. These concerns are compounded by rising inflation and new immigration policies introduced by President Donald Trump.

Impact of Economic and Political Policies

The economic and political policies adopted by the current administration have a non-negligible impact on workers’ financial perceptions and realities. According to Mark Zandi, CEO of credit assessment firm Moody’s, the US economy will likely continue to struggle in the coming months.

This is due to the ever-increasing inflation and new immigration policies being introduced. These policies not only affect the job market, but also have a domino effect on workers’ purchasing power and financial stability. Under these conditions, it is not surprising that many workers feel the need to be more proactive in managing their finances to deal with the uncertainties that may occur.

Conclusion

This Bank of America survey provides a clear picture of the financial pressures felt by American workers. With economic uncertainty high and government policies potentially making matters worse, it’s important for individuals to strengthen their personal financial management and seek out resources that can help with these challenges.

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Reference

• Daily Hodl. American Workers Becoming More Stressed About Their Debt and Personal Finances, According to Bank of America Survey. Accessed on September 4, 2025