Over Half Of Americans Feel ‘Financially Frozen’ Amid Economic Uncertainty, Survey Finds

A new survey reveals that more than half of Americans feel stuck and unsure about how to manage their finances, with inflation, budgeting, and long-term financial planning ranking among their top concerns.

The poll, conducted by Talker Research on behalf of Zoe Financial, surveyed 2,000 Americans and found that 53% feel “financially frozen” — overwhelmed and uncertain about their financial decisions. The biggest stressors include paying for necessities (36%), sticking to a budget (36%), and planning for long-term financial security, such as savings (22%) and retirement (21%).

One of the key reasons people feel financially stuck, according to the survey, is the overwhelming amount of financial information available online and on social media. Many respondents said they struggle to navigate topics such as inflation and cost of living (25%), investing (24%), and budgeting and saving (23%).

A majority (77%) admitted they regret past financial decisions and wish they had taken earlier action in key areas such as savings strategies (55%), stricter budgeting (41%), and investing (38%). The survey also found that, on average, respondents didnt take retirement planning seriously until age 38 — despite believing 29 would have been the ideal age to start.

However, younger generations are getting a head start. Gen Z respondents began retirement planning at 25, while millennials started at 34 — earlier than Gen X (38) and baby boomers (43).

Despite these efforts, only 26% of respondents have a financial advisor. Many avoid seeking professional advice due to cost concerns, with 39% believing they cant afford it and 24% thinking they dont have enough money to make financial planning worthwhile. Others cited fears of being scammed (19%) and misconceptions that financial advisors (39%) and custom portfolio strategies (48%) are only for the wealthy.

“Finding advice you can trust isnt always easy, but with the right help, people can feel more in control of their financial journey,” said Andres Garcia-Amaya, CFA, Founder and CEO of Zoe Financial, a platform that connects users to trusted independent financial advisors.

As artificial intelligence becomes more prevalent in financial services, the survey found that many Americans remain hesitant to rely on AI-driven financial tools. Thirty-seven percent said they would feel uncomfortable using AI exclusively, preferring the expertise of a human advisor. Respondents cited human advisors as being more trustworthy (58%), easier to understand (50%), and more effective (47%) compared to AI tools.

Concerns over AI include data security, lack of trust in new technology, and uncertainty about how to use AI effectively in financial planning.

Despite their financial anxieties, 83% of respondents said they want to be better prepared for the future. However, more than half (53%) feel they dont know where to start or worry theyve waited too long to take meaningful action.

The findings highlight the need for accessible financial guidance, whether through human advisors or technology, to help Americans regain confidence in their financial future.