National Survey: Middle-Income Americans Grapple With Growing Financial Uncertainty; Inflation Once Again Is Top Concern
Food and Grocery Costs Expected to Rise According to

The latest Primerica Household Budget Index™ (HBI™), which measures the purchasing power of middle-income families, found that middle-income families’ perceptions of their personal finances align with overall economic conditions. Eighty-six percent (
“Middle-income Americans continue to face significant financial stress, and they are not anticipating relief in the near future,” said Glenn J. Williams, CEO of Primerica. “This makes having a clear financial game plan even more essential to helping families navigate whatever the future brings. Prioritization is key — understanding where to focus, what to adjust and how to stay on track amid economic uncertainty.”
The latest Primerica Household Budget Index™ (HBI™), which measures the purchasing power of middle-income families, found that middle-income families’ perceptions of their personal finances align with overall economic conditions. Eighty-six percent (
“Middle-income Americans are navigating a financial landscape that feels increasingly unpredictable, with rising costs stretching household budgets and disproportionately impacting middle-income families, accounting for over
Additional key findings from Primerica’s Q1 2025 U.S. Middle-Income Financial Security Monitor™ (FSM™)
-
Middle-income Americans are increasingly concerned about their financial future. Nearly half (
46% ) of respondents expect their financial situation to worsen in the coming year, up from27% in Q4 2024. Only18% believe their situation will improve in the next year, compared with26% of respondents in the previous survey. -
Families are cutting back on spending. Reaching the highest level in two years,
78% report limiting non-essential purchases, such as eating out and entertainment. In addition,64% say they are setting aside money for an emergency fund, up from59% in the previous survey. -
Changing jobs or even adding a second one is top of mind to close the gap between incomes and expenses. Fifty-two percent (
52% ) report either considering getting or already having a second job. More than half (55% ) are considering changing or are already actively switching jobs. -
Majority expect a 2024 tax refund. Fifty-three percent (
53% ) anticipate getting money back on their returns this year, with the top plans for those refunds including: saving (38% ), paying down debt (32% ) and/or paying outstanding bills (30% ).
Primerica Financial Security Monitor™ (FSM™) Topline Trends Data
Mar 2025 |
Dec
|
Sept
|
Jun 2024 |
Mar 2024 |
Dec 2023 |
Sept 2023 |
Jun 2023 |
Mar 2023 |
|
How would you rate the condition of your personal finances? |
|||||||||
Share reporting “Excellent” or “Good.” |
|
|
|
|
|
|
|
|
|
Analysis: Respondents’ assessments of their personal finances are down slightly from where they were a year ago. |
|||||||||
Overall, would you say your income is…? |
|||||||||
Share reporting “Falling behind the cost of living” |
|
|
|
|
|
|
|
|
|
Share reporting “Stayed about even with the cost of living” |
|
|
|
|
|
|
|
|
|
Analysis: Concern about meeting the increased cost of living remained steady with |
|||||||||
And in the next year, do you think the American economy will be…? |
|||||||||
Share reporting “Worse off than it is now” |
|
|
|
|
|
|
|
|
|
Share reporting “Uncertain” |
|
|
|
|
|
|
|
|
|
Analysis: The share of respondents expecting the economy to worsen over the next year has risen sharply since the previous poll. |
|||||||||
Do you have an emergency fund that would cover an expense of |
|||||||||
Reporting “Yes” responses |
|
|
|
|
|
|
|
|
|
Analysis: The percentage of Americans who have an emergency fund that would cover an expense of |
|||||||||
How would you rate the economic health of your community? |
|||||||||
Reporting “Not so good” and “Poor” responses |
|
|
|
|
|
|
|
|
|
Analysis: Respondents’ rating of the economic health of their communities has gotten worse over the past year. |
|||||||||
How would you rate your ability to save for the future? |
|||||||||
Reporting “Not so good” and “Poor” responses |
|
|
|
|
|
|
|
|
|
Analysis: A significant majority continue to feel it is difficult to save for the future. |
|||||||||
In the past three months, has your credit card debt…? |
|||||||||
Reporting “Increased” responses |
|
|
|
|
|
|
|
|
|
Analysis: Credit card debt has remained about the same over the past year. |
About Primerica’s Middle-Income Financial Security Monitor™ (FSM™)
Since September 2020, the Primerica Financial Security Monitor™ has surveyed middle-income households quarterly to gain a clear picture of their financial situation, and it coincides with the release of the monthly HBI™ four times annually. Polling was conducted online from March 3-6, 2025. Using Dynamic Online Sampling, Change Research polled 1,240 adults nationwide with incomes between
About the Primerica Household Budget Index™ (HBI™)
The Primerica Household Budget Index™ (HBI™) is constructed monthly on behalf of Primerica by its chief economic consultant Amy Crews Cutts, PhD, CBE®. The index measures the purchasing power of middle-income families with household incomes from
The HBI™ uses January 2019 as its baseline, with the value set to
Periodically, prior HBI™ values may be modified due to revisions in the CPI series and Consumer Expenditure Survey releases by the
About Primerica, Inc.
Primerica, Inc., headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20250409910736/en/
Media Contact:
Gana Ahn
678-431-9266
Email: Gana.Ahn@primerica.com
Investor Contact:
Nicole Russell
470-564-6663
Email: Nicole.Russell@primerica.com
Source: Primerica, Inc.