March 12, 2007

For Them, Money Is The Biggest Problem

36%

That’s the portion of Americans who say that financial concerns are the biggest problem their family faces; family, personal and health problems are the next most cited concerns but, taken together, they account for only 11% of top worries for American families.

When respondents in a recent Pew Social Trends survey were asked to put in their own words the biggest problem they and their families face, financial concerns dominate the list — about 36% of responses explicitly focused on personal finances and economic issues; an equal portion (36%) focused on other kinds of problems, but some of these include a financial component, such as the cost of health care and education. Another three-in-ten indicate they either don’t know or see no particular problems facing their families. The dominance of concerns about making ends meet is consistent with previous surveys asking this question since the early 1990′s. Read More