In kitchens across America, dinner conversations have turned to budgets. A trip to the grocery store sparks silent mental math. A bill arrives, and there’s a pause before it’s opened. For millions of people, 2024 was the year when financial anxiety edged ever closer to everyday life.

A new survey from Yahoo Finance and the Marist Poll paints a sobering picture: most Americans are saving less, worrying more, and facing the future with a mix of realism and reluctant hope. While inflation cooled from its fever pitch, the cost of living — housing, food, and other essentials — stayed stubbornly high. And for many, the dream of financial security slipped a little further away.

A Shrinking Cushion

Even with wages rising in some sectors, the basics now eat up a bigger piece of the pie. Nearly half of those surveyed (47%) said the cost of living was their biggest obstacle to saving. One in three wouldn’t last a month if they lost their income. And women, especially those in Gen X and millennial age groups, were more likely to say they saved less than the year before.

Only 22% of Americans say they are satisfied with their savings. In contrast, 35% say they are very or completely dissatisfied. That dissatisfaction is especially common among women — 40% versus 28% of men.

“We’re just trying to get through the week,” said one respondent in a follow-up interview, “let alone think about saving for the future.”

Indeed, this tension between paying bills and saving played out across generations. While older Americans were more likely to report they live comfortably — 40% of baby boomers and older generations — younger people are living closer to the edge. Nearly 40% of Gen Z respondents said they couldn’t pay their bills for even one month if their income vanished.

Cautious Optimism

Despite these difficulties, many remained optimistic. Forty-four percent of respondents believe they’ll save more in 2025. That hope is especially strong among Gen Z (63%) and millennials (53%), who often view their financial future as something they can still shape.

Interestingly, 60% of respondents also said they feel more optimistic about their finances with Donald Trump as the incoming president. That optimism cuts across generations — especially strong among Gen Z (70%) — though it’s worth noting that this survey was made before the Trump administration announced sweeping tariffs that are likely to cost the average American household a couple thousand dollars a year. Older generations, particularly baby boomers, were the most skeptical.

Still, optimism doesn’t always translate into action. Savings behavior is tightly bound to what people can do, not just what they want to do.

“The reality is that most of us aren’t spending frivolously,” said another participant. “We’re just trying to cover the basics — groceries, rent, gas. There’s not much left after that.”

The Digital Front Lines of Saving

Technology hasn’t solved these problems, but it has helped some people better manage them. Many Americans are turning to financial tools like online budgeting platforms to track their spending and plan ahead. Others use receipt apps, which scan purchases and offer discounts or cashback rewards, helping users save on everyday expenses. Gig economy apps have also become a way for some to bridge income gaps.

And in emergencies? The strategies vary. Some — about 26% — dip into what little savings they have. Others take on extra work (14%), trim spending (15%), or lean on family and friends for support. Gen Zers and millennials were the most likely to ask for help from loved ones, while older generations turned more often to credit cards.

But even credit has its limits. With interest rates high, credit card debt hit record levels in 2024.

What Now?

Financial experts often recommend building an emergency fund that could cover three to six months of expenses. That advice, repeated in articles and money blogs, feels out of touch to many Americans.

The average respondent said they could cover about seven months of expenses — but that average hides wide disparities. One-third of people said they couldn’t even manage a single month.

For all the charts and data, what emerges most clearly from this survey is a national sense of economic fragility. Americans aren’t simply making bad choices. They’re navigating a system of rising costs, stagnant safety nets, and unpredictable shifts in jobs and housing.

Yet they’re also resilient. Younger generations, in particular, are reimagining what financial success looks like. They’re learning to budget, using tech to track their spending, and talking more openly about money — something previous generations often avoided.