Poll: 15% of Americans worse off a year into pandemic

While most Americans have weathered the pandemic financially, about 38 million say they are worse off now than before the outbreak began in the U.S.

Overall, 55% of Americans say their financial circumstances are about the same now as a year ago, and 30% say their finances have improved, according to a new poll from Impact Genome and The Associated Press-NORC Center for Public Affairs Research.

The problem is more pronounced at lower-income levels: 29% of Americans living below the federal poverty line say their personal finances worsened in the past year.

Overall, the Impact Genome/AP-NORC poll found 52% of Americans say they were able to save money for most of the past three months, while 37% broke even and 10% were short on paying bills.

Among Americans living below the poverty line, 29% say they struggled to pay bills recently, while just 16% have saved.

By comparison, 61% of those living far above the poverty line say they have been able to save.

The federal poverty line for a family of four in 2019, prior to the pandemic, was $25,750.

The poll found many Americans — nearly a third — had not had investment or similar long-term savings accounts set up even before the pandemic.

“I am glad that it gave me the push to look at my finances and plan a little bit more for the future,” Holland said.