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Money was a big stressor for many Americans in 2024. To gain insight into the financial situation of individuals at that time, Prosper Marketplace surveyed 1,009 U.S. adults who made financial decisions for their households.
The results of our 2024 Prosper Economic Perceptions & Personal Finance Survey indicated a mixed picture. Many people struggled to keep up with rising costs, and debt became a bigger burden. Women and older adults, in particular, felt less confident about their finances.
But there was some good news, too: nearly half of Americans were hopeful that things would get better in the next few years.
This whitepaper explores what happened with people’s finances in 2024, how it compared to 2016, and what steps could help improve financial wellness. From financial education to better tools and resources, there were (and still are) clear opportunities to make financial wellness a reality for more people.
Economic perceptions: 45% of Americans felt the economy had worsened since the pandemic, but 48% thought things would improve in the next five years. Men were more optimistic (55%) than women (41%).
Investment gaps: Most Americans weren’t investing. A whopping 68% of respondents said they had no investments, and women were disproportionately affected—nearly 8 in 10 reported not investing.
Debt troubles: Credit card debt rose fast. In 2024, 63% of users said they couldn’t pay off their balances in full, up sharply from 45% in 2016.
Living paycheck to paycheck: More people felt stretched. By the end of 2024, 57% said they lived paycheck to paycheck, compared to 48% in 2016.
Low financial confidence: Only 42% of respondents felt confident they could handle a financial emergency, leaving many vulnerable to unexpected costs.
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