—13% of Gen Z say they aren’t completely secure and likely never will be, versus

—19% of millennials;

—30% of Gen X; and

—35% of baby boomers.

The U.S. economy is keeping Americans from achieving financial security

Financial security looks different for every American, depending on their individual finances and goals. Yet, personal finance experts say it can look like anything from affording an unplanned expense without a credit card to being in a position where money isn’t a major stressor.

A separate Bankrate survey published in May found money has a negative impact on more than half (52%) of Americans’ mental health.

“Being capable of paying for ongoing expenses, saving for retirement and emergencies, paying down debt and having a bit more left over for an occasional ‘splurge,’ whatever it might be, is more likely to be aligned with being comfortable,” Hamrick says. “Typically, people fantasize about the notion of getting ‘rich,’ but most aspire to get by or a bit better than that.”

Factors related to the U.S. economy are overwhelmingly what’s holding back Americans’ finances, Bankrate’s survey finds. More than 3 in 5 financially insecure Americans (or 63%) point to high inflation, nearly half (48%) blame the economic environment more broadly and 36% point to rising interest rates as what’s keeping them from feeling financially secure.

High inflation was the top barrier for financially insecure Americans regardless of income, residency, education and demographics.

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