Washington: More than half of Americans are expressing concerns about their worsening financial situation, with a significant number worried about covering their monthly bills, according to a Gallup poll released on Tuesday.

According to Anadolu Agency, the poll highlights that Americans' financial outlook for 2026 is 'historically poor,' with a record 55% now reporting that their financial situation is deteriorating, an increase from last year's 53% and 2024's 47%. This marks the fifth consecutive year that more Americans have indicated their finances are worsening rather than improving. The only similar period when the majority felt their finances were worsening was during the Great Recession from 2007 to 2009.

The poll further reveals that 62% of Americans worry about not having enough money for retirement, while 60% are concerned about being unable to cover medical costs in the event of a serious accident or illness. Additionally, 54% are worried about their investment returns and maintaining their standard of living.

Meanwhile, nearly half of the respondents are concerned about routine healthcare costs, with 41% worried about paying their normal monthly bills and 40% about affording college expenses. The poll notes that affordability concerns dominate this year's list, with issues such as inflation, energy, housing, and healthcare costs, along with college expenses, transportation costs, and childcare, far exceeding other types of financial concerns.

Recent increases in consumer prices have resulted in financial hardships for approximately 55% of those surveyed. About 13% cited rising oil and gas prices as a concern, reflecting a 10 percentage point increase from the previous year.