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The middle class, most adults in developed economies, worse off than their parents

2024-04-08 12:36:14Biznes SHKRUAR NGA REDAKSIA VOX

The middle class, most adults in developed economies, worse off than their

In the world's major economies, the middle class is the one in the most difficult and insecure financial position. According to a survey conducted, the majority of adults in developed economies state that they are in a worse situation than their parents.

Most adults living in developed economies believe they are in a worse financial situation than their parents, while expressing strong concern about their finances. They even appear pessimistic about the future, as a significant number predict that their children will be in the same or even worse financial situation.

According to a Survey Monkey survey of major economies, at least half of adults are worried about their finances, and many attribute this anxiety to rising inflation. In particular, in the United States, Australia and Mexico, around seven in 10 respondents said they were 'very or somewhat worried' about money. This figure drops to 63% in Britain, 57% in Germany, 55% in Switzerland and around 50% in Singapore and France.

In these countries, from 50% to 75% of respondents consider themselves in the middle class, with the exception of Britain where the percentage was up to 37%. But while the middle class has traditionally been considered relatively comfortable financially, between 45% and 62% of respondents said they live paycheck to paycheck.

In addition, concerns about retirement were common across countries surveyed, with half of adults worldwide saying they either have no plan or no savings for retirement, and many rely on government programs .

Of the countries examined, only adults in Singapore and Mexico were more likely to say they were better off financially than their parents. But even when it comes to their children they are pessimistic. Only in Mexico -75%, USA -59% and Singapore -57% do most believe their children will be more financially comfortable. Perhaps even more worryingly, respondents in Australia, Germany and Britain themselves say they are worse off now than they were five years ago.

Financial stress has been attributed mainly to inflation, but also to lack of savings, financial instability and high lending rates. Regardless of the economy's performance, about half of adults are stressed about personal finances in every country surveyed around the world.


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