Inflation may have a bigger impact on the financial health of Americans than the COVID-19 pandemic did, according to findings from a new study by real estate data company Clever Real Estate.

The study, conducted online in January, revealed that 70% of those who responded said inflation has impacted their finances more than the pandemic, and a similar percentage (68%) think inflation is having a bigger impact on the U.S. economy as a whole than the pandemic.

Against the backdrop of a second financial blow to Americans already struggling to recover from the impact COVID-19 had on their finances, stress levels are on the rise. The survey found that 73% of Americans in debt are stressed about money and one in 20 believe they will never be able to pay off their debt. More than half of Americans said they have cried over their finances and a similar percentage said they have fought with loved ones over money issues in the past year.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.