INDIANAPOLIS— More than half of Americans say they worry about money, according to a new NerdWallet survey.
The survey found that younger generations are more likely to feel financial stress, with Gen Z (ages 18-28) and millennials (ages 29-44) reporting higher levels of concern than older groups.
Rising costs for housing, inflation and uncertainty around tariffs are among the top reasons.
WRTV asked Indianapolis residents what worries them the most about money.
“Once rent comes into play, now that it’s 50% or higher per paycheck going just toward rent, it makes you think what else do I have money for?” said Mamed Ramazanli, who is 24 years old. “I don’t have money for all the groceries I need to buy. I don’t have money for rising utility rates. It’s just harder to make the dollar stretch further than maybe it used to be.”
Financial experts say there are steps people can take to improve their financial well-being. NerdWallet suggests:
- Keep tabs on where your money is going
- Create a plan for the money you have
- Build or grow an emergency fund
- Reduce credit card and other debt
- Explore first-time home buyer or veteran loan programs
- Continue learning about personal finance
“It’s really important, especially for young families, to have a strict budget,” said Tyler Hatchett, an Indianapolis resident. “We have a set cost for day care, and we need to be able to afford that, so yes, we have a very strict monthly budget.”
