Think you’re worse off financially than a year ago? Gallup says you’re not alone

Americans’ views of their financial situation worsened in 2020, reports pollster Gallup, serving as a reflection of how the coronavirus pandemic has impacted people’s perceptions of themselves and the world around them. 

Despite reaching a record high one year ago, the percentage of adults who say they are now financially better off than they were a year ago has tumbled 24 points to 35%—the lowest reading since 2014. Some 36% say they are worse off and 28% say their situation is the same.

These latest findings, from an early January Gallup poll, are consistent with Americans’ current negative views of the national economy. While adults’ assessments of their own economic situation are depressed, they are far from the worst Gallup has recorded in its 45-year trend. Twice in 2008, during the Great Recession, a historical high of 55% of Americans said they were financially worse off than they had been the previous year.

Read the full report.