Studies and Data Analysis

Survey: Majority of Americans Believe a Recession is Coming

Nearly two-thirds (64%) of Americans believe the U.S. economy will enter a recession in the next 12 months, according to a September NerdWallet survey conducted online by The Harris Poll. That’s a slight increase from the 61% of Americans who believed this when we asked the same question at the beginning of August.

This sentiment is less common among baby boomers, ages 61-79, (59%) than other generations. Roughly two-thirds of Gen Xers (ages 45-60), millennials (ages 29-44) and Gen Z (ages 18-28) feel this way (65%, 67%, 68%, respectively).

Three-fourths (75%) of Americans who say they’re living “paycheck to paycheck” believe the economy will enter a recession in the next 12 months, compared with 54% who aren’t living paycheck to paycheck.

Anticipation of an economic downturn can be especially stressful for the financially vulnerable. Solid financial habits like revisiting your budget and emergency savings, and paying down debt can help you prepare for a recession.

OBBBA Data: Responses Mixed on Bill’s Impact

Nearly 2 in 5 Americans (39%) think the One Big, Beautiful Bill Act, passed into law in July 2025, will improve their personal financial situation, according to a new NerdWallet survey conducted online by The Harris Poll. This sentiment is more commonly held by men than women (47% vs. 31%) and also by those with a household income of $75,000 or more than those with lower household incomes (44% vs. 31% with a household income less than $75,000).

Close to half of Americans (45%) don’t believe the bill will improve their personal financial situation and 16% don’t know if it will.

» MORE: What the ‘Big, Beautiful Bill’ Means for Your Finances

The survey also found that 2 in 5 Americans (40%) think the One Big, Beautiful Bill Act is good for Americans’ finances overall. Again, this belief is more common among men than women (50% vs. 31%) and among those with a household income of $75,000 or more than those with lower household incomes (45% vs. 33% with a household income less than $75,000).

Nearly half of Americans (45%) don’t believe the bill is good for Americans’ finances overall and 15% don’t know if it is.

The bill’s provisions go into effect between 2025 and 2028. This survey was fielded in August 2025 and sentiments may shift over time as the impact of the bill is more keenly felt.

Survey: Most think they’d never fall for a money scam

Nearly 7 in 10 Americans (69%) say they would never fall for a financial scam, according to a new NerdWallet survey, conducted online by The Harris Poll. But scams are getting more sophisticated, and even the savviest people can be susceptible.

» MORE: How to Stay Safe From Financial Scams

About three-quarters of Americans (74%) say they’re more concerned about a friend or family member falling for a financial scam than they are about themselves, according to the survey. Keep your loved ones abreast of current scams and signs to look for, and if they (or you) are a victim of a financial scam, report it.

Survey: Medicare enrollees are at risk of financial scams

Around 1 in 8 Americans with Medicare (12%) say they know someone who’s fallen for a Medicare scam, according to a NerdWallet survey, conducted online by The Harris Poll. And 8% of enrollees have fallen for one themselves.

» MORE: How to Stay Safe From Financial Scams

If you receive a phone call from someone claiming to work for Medicare and requesting your Medicare number, be skeptical. Instead of providing personal information to the caller, hang up and call 1-800-MEDICARE to follow up and see if the request was legitimate.

Survey: Pet insurance costs $100, on average, per month

Nearly a quarter of pet owners (24%) say they have pet insurance, according to a new NerdWallet survey, conducted online by The Harris Poll. They report spending $1,202 per year, on average, per pet, or $100 per month. (The median is lower, at just $720 per year, or $60 per month.) Premiums can vary based on coverage, species, breed and age of pet.

>> MORE: Is Pet Insurance Worth the Cost?

Half of Student Loan Borrowers Agree With Wage Garnishment for Non-Payment

More than 1 in 5 student loan borrowers (21%) — defined as Americans with student loan debt for themselves — weren’t making payments on their student loans, even though payments were due, according to a May 2025 NerdWallet survey, conducted online by The Harris Poll.

In Sept. 2024, the 12-month on-ramp period following the yearslong federal student loan payment pause came to an end. The millions of Americans who haven’t yet started paying on their loans since then are likely to default on their loans either this month or next (July or August 2025).

In addition to negatively impacting a borrower’s credit and other harmful penalties, defaulting on student loans can lead to wage garnishment. Around half of student loan borrowers agree with this somewhat harsh collection strategy: 51% say the federal government should garnish wages for those who aren’t current on their student loan payments.

>> MORE: How to Pay Off Student Loans Fast: 7 Strategies for 2025

What’s next for borrowers? In the May 2025 survey, over 2 in 5 Americans (44%) said “I have confidence that the federal government will improve the student loan system.” In recent days, the “big, beautiful bill” has passed with policy changes that will affect student loan borrowers, potentially impacting their ability to stay current on payments. Existing income-driven repayment plans will be replaced with a new plan that may result in higher monthly bills and a longer forgiveness timeline, and relief options that temporarily pause payments will be reduced or eliminated.

Survey: No Fee, Cash Back Are Top Credit Card Benefits

A NerdWallet survey, conducted online by The Harris Poll, asked Americans which credit card benefits would be most important to them if they were applying for a new credit card. The top perks? Nearly 3 in 5 Americans (57%) say no annual fee and the same proportion (57%) say cash back rewards.

MORE: How to Pick the Best Credit Card for You: 4 Easy Steps

Black-Owned Business Survey: Some May Be Supporting With Words, Not Money

Nearly 7 in 10 Americans (69%) say it’s important to them to support Black-owned small businesses, according to a recent NerdWallet survey conducted online by The Harris Poll. This means spending money at, recommending, sharing on social media or donating to these businesses. But the survey also found that only 40% of Americans who say it’s important to support Black-owned small businesses have patronized one in the past 12 months.

This may be in part due to access. More than half of Americans who say it’s important to support Black-owned small businesses (52%) say they don’t know how to find Black-owned small businesses to spend money at. Check if your city has a Black Chamber of Commerce, peruse online directories such as BuyBlack.org or use basic search terms such as “black owned business [your city]” and “online black owned businesses” to find businesses to patronize locally and beyond.

Survey: 22% of Americans Plan to Lean on Credit Card Rewards

More than half of Americans (51%) expect their credit card usage to change over the next 12 months, given the current market instability, according to a NerdWallet survey conducted online by The Harris Poll. The top change? Over 1 in 5 Americans (22%) say they plan to rely on credit card rewards to help cover expenses.

MORE: How to Redeem Credit Card Rewards

Theme Park Goers to Spend More Than $1,400 For Next Trip

A NerdWallet survey conducted online by The Harris Poll asked more than 2,000 U.S. adults how much they plan to spend on their next trip to a theme park, including tickets, transportation, lodging, food and souvenirs. Of the 44% of Americans who plan to take a trip to a theme park, they expect to spend $1,437, on average, though the median is lower at $500.

MORE: How to Purchase Theme Park Tickets With Points

Some Americans Put Off Home and Car Maintenance to Save Cash

More than 4 in 5 Americans (83%) have taken action to save money in the past 12 months, according to a NerdWallet survey, conducted online by The Harris Poll. Among these money-saving actions are putting off home and car repairs and maintenance:

• More than 1 in 5 homeowners (22%) have delayed planned home renovations to save money over the past year.

• 21% of homeowners have delayed necessary home repairs or maintenance.

• 17% of Americans have delayed necessary car repairs or maintenance.

Delaying necessary repairs and preventative maintenance could end up costing more down the road. Instead, it’s a good idea to budget for these predictable costs and save money where you can by going the DIY route or looking into affordable financing options.

MORE: How to Keep Home Improvements From Demolishing Your Budget

Survey: Some Homeowners Consider Ditching Insurance

A NerdWallet survey of more than 1,300 U.S. homeowners, conducted online by The Harris Poll, found that more than half of U.S. homeowners (54%) report that their insurance premiums have increased in the past 12 months. This tracks, as the average homeowners insurance premium costs $2,110 in 2025 — for $300,000 in dwelling coverage — according to a NerdWallet analysis. That’s an increase of 10% from the average premium in 2024.

Of those homeowners who say their premium went up, around a third (32%) say it’s due to extreme weather conditions in the past year.

Some homeowners are taking steps to save money on their premiums. According to the survey, 12% of homeowners switched insurance providers in the past 12 months to get a better rate and 10% increased their deductible during this time frame to save money. More than 1 in 10 homeowners (11%) say they’re considering getting rid of their homeowners insurance in the next year, a risky proposition that may end up costing them more down the road.

MORE: Insurance data and statistics

Majority of Americans Have Concerns About Trump’s Tariffs

President Trump has recently imposed tariffs on imported goods from most other countries. A tariff is a tax imposed by a government on goods imported from other countries, often used to protect domestic industries or generate revenue.

MORE: The current status of Trump’s tariffs

A new NerdWallet survey of more than 2,000 Americans, conducted online by The Harris Poll, finds that while some Americans (29%) think tariffs will help bring manufacturing back to the U.S., many more have concerns.

Nearly 9 in 10 Americans (85%) have concerns about the tariffs, with some of the top worries being their ability to afford necessities (46%) and the tariffs resulting in a recession (45%).

Around a quarter of Americans (26%) think tariffs will improve the U.S. economy, including 15% of Gen Zers (ages 18-28), 25% of Gen Xers (ages 45-60), 26% of baby boomers (ages 61-79) and a whopping 33% of millennials (ages 29-44). Still, most Americans (87%) say they’ll change their financial strategy over the next 12 months because of the tariffs.

A few top changes they’ll make include spending less on non-necessities (45%), spending less on necessities (33%) and saving more money in cash (30%). Some other notable changes Americans say they’ll make over the next 12 months include:

• 25% of Americans will delay a planned car purchase and 13% will delay a planned home purchase.

• 23% of Americans will spend less on domestic travel and 21% will spend less on international travel.

• 14% of Americans will pay less on their debt, possibly just paying the minimums instead of paying off debt more aggressively.

Survey: Half of Americans Spend More Than 30% of Income on Housing

A personal finance rule of thumb is that you should aim to spend no more than 28% of your gross monthly income on home-related costs. According to a NerdWallet survey, conducted online by The Harris Poll, many Americans exceed these recommendations on rent and mortgage payments.

The survey finds that half of Americans (50%) report spending more than 30% of their household’s gross monthly income on rent or mortgage payments. This could actually be even higher as another 11% of Americans don’t know what percent of their income is going to housing. Here are a few key statistics:

• Renters are more likely than homeowners to say they’re spending more than 30% of household income on housing costs (66% vs. 42%, respectively).

• Unmarried Americans are more likely than married Americans to say they’re spending more than 30% of household income on housing costs (57% vs. 41%, respectively).

• Parents of children under 18 are more likely than Americans without minor children to say they’re spending more than 30% of household income on housing costs (65% vs. 42%, respectively).

• Gen Zers (ages 18-28) and millennials (ages 29-44) are more likely than Gen Xers (ages 45-60) and baby boomers (ages 61-79) to say they’re spending more than 30% of household income on housing costs (62% and 63% vs. 47% and 31%, respectively).

Survey: Buy Now, Pay Later Behaviors

More than half of Americans (55%) say they’ve used buy now, pay later (BNPL) services, according to a NerdWallet survey conducted online by The Harris Poll. Of them:

• 22% currently owe money to a BNPL service provider

• 19% have paid late fees or interest after missing a BNPL payment in the past 12 months

• 19% have carried multiple BNPL loans at the same time in the past 12 months

• 16% have regretted a BNPL loan they took out in the past 12 months

Concert Ticket Spending and Inflation Data

Roughly one in five Americans (21%) have purchased or plan to purchase concert tickets in 2025, according to a NerdWallet survey conducted online by The Harris Poll.

The youngest generation is most likely to be purchasing concert tickets this calendar year:

• 33% of Gen Z (ages 18-28) versus 22% of millennials (ages 29-44), 20% of Gen X (ages 45-60) and 13% of baby boomers (ages 61-79).

Younger generations are more likely to consider concert tickets a financial priority:

• Both 11% of Gen Z and millennials say this, while 6% of Gen X and 2% of baby boomers do. 

Ticket prices for events including concerts showed remarkably fast price growth from mid-2021 through early 2024, but have since slowed. Though price growth in this category has moderated, ticket prices are an estimated 21% higher at the beginning of 2025 than they were four years ago.

Survey: Fear and Worry Among Tax Filers

It’s tax season, and many Americans may be filled with some degree of anxiety about the process and the outcomes. According to this recent NerdWallet survey conducted online by The Harris Poll:

• 21% of Americans are afraid of making mistakes on their federal income tax returns. 

• 9% of Americans worry about being audited by the IRS. 

• 20% of Americans usually have no idea if they’ll owe money or get a refund when they file their taxes.

  • Gen Z (ages 18-28) is more likely than all other generations to not know what to expect — 31% vs. 19% of millennials (ages 29-44), 18% of Gen X (ages 45-60) and 15% of baby boomers (ages 61-79). 

Related content:

NerdWallet’s 2025 Tax Filing Guide

7 Reasons the IRS Might Audit You

2025 Summer Camp Finances

According to a February 2025 NerdWallet survey, conducted online by The Harris Poll, a quarter of Americans who plan to enroll their child(ren) in summer camp this year (25%) anticipate spending more than $2,000, per child, on summer camp fees.

Among those who plan to enroll their child(ren) in summer camp in 2025, the survey also found:

• 22% are able to access free or discounted summer camp

• 20% wouldn’t be able to pay for summer camp without financial assistance from a family member

• 18% say it’s financially difficult for them to pay for summer camp

• 17% will go into debt to pay for summer camp this year

• 11% have used/will use the Dependent Care Flexible Spending Account (DCFSA) to cover at least some summer camp expenses

Americans' gambling habits over the past year

According to a December 2024 NerdWallet survey, conducted by The Harris Poll, nearly 3 in 4 Americans (72%) say they’ve gambled in the past 12 months. The most common type of gambling they participated in is scratch-off lottery tickets (48%).

• Americans who’ve gambled in the past 12 months say they’ve spent $1,827, on average, on gambling during that time, though the median is much lower at $220.

• Nearly half of Americans who gambled in the past 12 months (47%) say they rarely make bets larger than $20.

• While 23% of those who’ve gambled in the past 12 months say they budget gambling into their monthly expenses, the same proportion (23%) often feel like they’re scraping by financially.

• Around 1 in 6 Americans who gambled in the past 12 months (17%) say they consider gambling to be an investment.

How many Americans have emergency funds?

Emergency funds can be the foundation of financial security. An unexpected medical bill or car repair can throw your finances into turmoil when you don’t have funds set aside for such surprises. Unfortunately, just 42% of Americans have an emergency fund of at least $2,000 on hand, according to this NerdWallet survey conducted online by The Harris Poll in November.

• 42% of Americans currently have an emergency fund (i.e., easily accessible “cash” for unexpected expenses) of at least $2,000. 

• These funds are most common among baby boomers (ages 60-78) — 55% of this group has such a fund versus 39% of Gen. X (ages 44-59), 36% of millennials (ages 28-43) and 31% of Gen. Z (ages 18-27).

• Men (47%)  are more likely than women (38%) to have such a $2,000 emergency fund.

Learn more about emergency funds, here.

2025 Super Bowl betting

A recent NerdWallet survey, conducted by The Harris Poll, asked Americans who they’re rooting for and who they’re betting on to win the 2025 Super Bowl between the Philadelphia Eagles and the Kansas City Chiefs.

• More than 4 in 5 Americans (81%) say they’ll watch the Super Bowl. Among them, 42% are rooting for the Eagles, 38% are rooting for the Chiefs and 20% aren’t rooting for either team.

• Just 17% of Super Bowl watchers say their favorite team is playing this year. This is true for 25% of those rooting for the Chiefs and 17% of those rooting for the Eagles.

• Of Americans who are betting on who will win the 2025 Super Bowl, it’s a close one — 52% are betting on the Chiefs to win, while 48% are betting on the Eagles to win.

2025 Super Bowl viewing reasons

A recent NerdWallet survey, conducted by The Harris Poll, asked Americans reasons why they would watch the 2025 Super Bowl. The top reasons for viewing are the teams playing (52%), socializing with friends (50%) and the commercials (49%). Three in 10 (30%) say betting on the game is among their reasons to watch. Read more about this in our 2025 Sports Betting Report.

Economic optimism post-election

Nearly three in 10 (29%) Americans say the recent election outcome gave them greater optimism about the U.S. economy in 2025, according to this November 2024 survey.

• Men are more likely than women to share this sentiment — 33% of men versus 26% of women. 

• The difference between men and women ages 65 and older is pronounced — 42% of men in this age group say the election resulted in greater economic optimism for 2025, versus 26% of women ages 65 and older. 

Shopping during annual sale events

• In the past 12 months, 39% of Americans have taken advantage of an annual sale event to buy something they were already planning to buy.

• In the past 12 months, 29% of Americans bought something they weren’t planning to buy during an annual sale event.

• In the past 12 months, 16% of Americans have regretted buying something they weren’t planning to buy during an annual sale event.

*The examples we provided for "annual sale events" include Amazon Prime Days, Target Circle Week and Black Friday.

Reluctance to using autopay

Autopay — the automatic payment of bills (utilities, credit cards, etc.) from your bank account — can help simplify your financial life by giving you one (or many) less things to worry about. But our nationally-representative survey conducted online by The Harris Poll found two reasons some Americans are reluctant to use the service.

• 26% of Americans are reluctant to use autopay to pay their bills because they like greater control over transactions affecting their account(s).

• 24% of Americans are reluctant to use autopay to pay their bills because they’re concerned about mistakes.

Read more here, where writer Melissa Lambarena details when and how to use the service to your advantage.

Americans under financial strain

Seventeen percent of Americans are currently having difficulty making all of their debt payments each month according to our nationally-representative survey conducted online by The Harris Poll.

Other results from our survey:

• 17% of Americans cannot reasonably make more than the minimum payments on their debt each month (i.e., if they did they wouldn’t be able to pay for necessities).

• Less than half (42%) of Americans would be able to pay for all of their necessary expenses (e.g., food, housing, utilities) if their household income decreased by 10%.

• 18% of Americans borrowed money in the last 12 months to pay for necessities such as food, housing or utilities. This includes 25% of Gen Z, 26% of Millennials, 17% of Gen X and 7% of Baby Boomers.

Health insurance shoppers’ priorities

As part of our recent Medicare and Retirement Report, we asked how insured Americans prioritize health insurance factors. Most Americans (94%) say they have insurance, whether Medicare or otherwise. When asked which factors are among the most important when choosing a health insurance plan, the top ones were prescription drug coverage (54%), dental, vision and hearing coverage options (49%) and ability to keep seeing current doctors (47%).

Americans financial plans after interest rate cuts

The Federal Reserve is expected to cut interest rates in the fall in response to moderating inflation. We recently examined Americans' plans to take any financial actions once rates go down:

Our nationally-representative survey conducted online by The Harris Poll found some stark generational differences:

• 89% of Gen Z (ages 18-27) say they planned to take at least one financial action once interest rates go down, compared with 78% of Millennials (ages 28-43), 62% of Gen Xers (ages 44-59) and 31% of Baby Boomers (ages 60-78).

• 30% each of Gen Z and Millennials say they planned to purchase a car compared with 22% of Gen Xers and 12% of Baby Boomers.

• 29% of Gen Z and 27% of Millennials say they plan to refinance a loan as compared with 18% of Gen Xers and just 3% of Baby Boomers.

• 30% of Gen Z and 22% of Millennials say they plan to take out a loan as compared with 13% of Gen Xers and just 3% of Baby Boomers.

• Around two-thirds of Americans (66%) don’t feel comfortable talking with their friends about personal finance situations, such as income, debt and money problems.

• More than 2 in 5 Americans (43%) say they’ve lent money to a friend and 20% of Americans have had to remind a friend to pay them back the money they owed.

• Over a quarter of Americans (27%) say they’ve had to turn down plans with a friend because they couldn’t afford it. Gen Zers and millennials are more likely to say this than Gen Xers and baby boomers — 35% and 34%, vs. 25% and 20%.*

• More than half of Americans (53%) say they generally don’t have arguments about money with their friends. Baby boomers are more likely to say this than younger generations — 64%, vs. 56% of Gen X, 45% of millennials and 43% of Gen Z.

*Generations defined: Gen Z (ages 18-27), millennials (ages 28-43), Gen X (ages 44-59), baby boomers (ages 60-78)

• Close to half of Americans (45%) say they’ve made weight loss-related purchases for themselves, including prescription weight loss medications (11%) and weight loss surgery (5%).

• About two-thirds of Americans who have made weight loss-related purchases for themselves (63%) used cash or debit cards to pay for them, while 38% used a credit card they paid in full by the due date. 

• Some Americans who have made weight loss-related purchases for themselves took on debt — 14% used a credit card they didn’t pay in full by the due date and 12% used a buy now, pay later service.

• Nearly a quarter of Americans who have made weight loss-related purchases for themselves (24%) used insurance to pay for it, while 10% used an FSA/HSA.

• 54% of Americans say at least one financial scam has been attempted against them in the past 2 years. 

• 18% of Americans lost money in a financial scam in the last 2 years. 

• Americans who lost money to financial scams over the past two years typically lost $325 (median), while about one-third (32%) lost $1,000 or more.