NEW YORK—Most Americans found themselves forced to make trade-offs in order to make ends meet last year, with a majority reporting they had to take measures in at least one instance to cover monthly bills in 2023, a new study reveals.
The Assurance IQ report found 66% of U.S. adults confirmed in December they had made sacrifices to pay their expenses during the previous 12 months, Fox Business stated in its analysis.
The most common way Americans covered their bills when they were short on funds was to borrow money or turn to credit cards (41%).
The Hardest Hit
“Unsurprisingly, lower-income households were hardest-hit, and those making less than $75,000 were more likely to borrow funds for expenses, with 47% saying they needed to do so last year,” Fox Business said.
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