Prices on everyday items continue to rise and consumers are trying to find ways to make their dollar stretach further while safeguarding their money against the potential challenges a recession may bring. Consumers are most worried about the affordability of routine expenses, with 73% concerned that the price of everyday items like gas, groceries and rent will continue to rise to a level they can’t afford. Meanwhile, 55% harbor supply chain concerns and 38% are stressed about the affordability of big, planned purchases such as a home or a car. As recession worries grow, more Americans are sizing up their finances to see where they stand. Only 48% are confident that they can financially handle a recession, and two in five believe that they’ll need to rely on credit to cover essential and unexpected expenses over the next three months.
