According to a Gallup poll, more than half of Americans (53%) said they believed their financial situation is worsening — a record high. Economic anxiety is surging as the impact of President Donald Trump’s tariffs remains uncertain, inflation lingers and incomes fail to keep pace.
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However, experts said unchecked pessimism can lead to paralysis. Here are five ways to survive.
Erika Wasserman, CEO of Your Financial Therapist, recommended grounding financial stress with present-tense reflections like this: Right now, I am feeling overwhelmed. Right now, everything feels expensive. Right now, I am not saving as much as I want to for retirement.
“These aren’t forever statements because your relationship with money is always changing because of your job, family size, emergencies that happen, etc.” Wasserman said. “Think back five years ago, your financial situation looked differently than it does today, and in five years it will look different as well.”
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Feeling stuck is common in uncertain times, but shifting from panic to planning can bring clarity and a sense of control.
“We are in an era of financial uncertainty, with the stock market not being stable, cost of living increasing, and people’s income stagnating or disappearing all together,” said April Taylor, a financial coach and entrepreneur. “However, even in times of financial pessimism we are still in control, and we must shift our mindset to get on the road of financial mindset recovery.”
In addition, Wasserman recommended having a weekly check-in to review bank accounts, note upcoming bills and monitor spending.
While many Americans feel overwhelmed by broader economic forces, experts said focusing on what’s controllable can make a meaningful difference.
“That could be as simple as checking in with how a purchase made you feel,” said Billy Spencer, CFP, director and wealth manager at Crestwood Advisors.
He explained that you can then reflect on your spending habits. “If it didn’t add value, maybe don’t buy it again,” he said. “And if it did make you feel good, ask yourself if you can recreate that feeling without spending money, like going for a walk with a friend instead of paying for a workout class.”
Experts said that tackling small steps can offer quick wins that build momentum and reduce financial stress.
