- 49% of Americans believe that their financial situation worsened in 2025, with the most common financial setbacks being unexpected expenses (28%).
- Two-thirds say that economic factors affected their spending habits in 2025, and the top financial concern heading into the new year is also economic factors (e.g., tariffs, cost of living, or inflation) (38%).
- 45% of respondents are confident in their ability to achieve their financial goals in the new year. Making a budget and sticking to it (51%), focusing on improving their credit (35%), and using healthier coping strategies than spending money (30%) are the top tactics that they plan to use in order to build healthier financial habits next year.
As 2026 approaches, many Americans are reflecting on a financially challenging year.
According to a new study conducted by Qualtrics on behalf of Intuit Credit Karma of 1,000+ U.S. adults ages 18 and older nearly half of Americans (49%) say their financial situation worsened in 2025. The biggest setbacks included unexpected expenses (28%), credit scores taking a hit (24%), falling behind on payment obligations (e.g., loans, credit card bill, mortgage) (20%), and difficulty affording necessities like groceries or bills (19%). Economic headwinds added pressure, with two-thirds (67%) saying rising costs and other macroeconomic forces shaped their spending habits this year.
Looking ahead, economic factors remain the top financial concern for 2026 (38%). Yet, many consumers are entering the new year with a sense of determination. Nearly half (45%) of Americans feel confident in their ability to reach their 2026 financial goals, with many taking a hard look at the habits that held them back over the past year.
Financial Regrets From 2025
A lack of saving emerged as the most common regret of 2025, underscoring the challenges many Americans have faced trying to stay ahead of rising costs.
American’s top financial regrets include:
- Not saving money – 38%
- Making impulse purchases based on emotions – 28%
- Accumulating too much credit card debt – 21%
- Not caring enough about their finances – 18%
- Not saving for retirement – 14%
- Overspending due to pressure from friends or a partner – 14%
New Year, New Financial Resolutions
Americans are eager for a new year’s reset for their finances. Nearly two-thirds (63%) have clearly defined personal finance goals for 2026 and are focused on breaking old habits and building healthier ones.
Habits people aim to break:
- Impulse buying – 34%
- Not saving money – 33%
- Overspending on non-essentials – 31%
- Dipping into savings – 25%
- Carrying credit card debt – 24%
- Not budgeting or tracking expenses – 24%
Americans are looking to build healthier financial habits in 2026 through several tactics, most notably by making a budget and sticking to it (51%). Other key strategies include improving their credit (35%), replacing emotional spending with healthier coping strategies (e.g., exercise, cooking, or meditating) (30%), and utilizing tools such as personal finance apps and AI to better manage their money (21%).
Employment & Economic Anxiety Heading Into 2026
Uncertainty around the labor market and rising costs continues to weigh on consumers.
- Job security: 27% are worried about layoffs heading into 2026, rising to 37% of Gen Z and 38% of Millennials.
- Compensation: Only 43% say their current income keeps pace with the cost of living.
- Staying put: 20% of both Gen Z and Millennials stayed in jobs they wanted to leave to maintain financial stability.
When asked what would help them the most in improving their finances next year, consumers cited solutions outside their control, including a lower cost of living (50%) and higher income (49%).
Looking Ahead to Tax Season
As the year winds down, the season for tax preparation is approaching. For many Americans, tax season plays a critical role in keeping their finances afloat. One-third (34%) rely on their tax refund to make ends meet. In fact, 49% plan to file early to get their refund sooner (63% of Millennials, 53% of Gen Z).
For many, the tax refund is essential for managing immediate financial pressures. For those that depend on their tax refund to make ends up, the primary reasons include the rising cost of living (47%), living paycheck to paycheck (38%), and having depleted savings (28%).
Heading into tax season, consumers express a number of worries. The top concerns are not receiving a refund at all (28%), getting a smaller refund than anticipated (27%), and the prospect of owing money in taxes (26%).
“Despite some apprehension, the good news is a recent Piper Sandler study indicates that many filers can expect to see an increased refund or lower balance due, in some cases by as much as $1,000,” said Lisa Greene-Lewis CPA and tax expert with TurboTax. “Most filers receive a refund, and last tax season the average was more than $3,000. For many households, that’s the largest check they’ll see all year, which is why so many filers are eager to submit their returns as early as possible.”
Americans are turning their focus toward what they can change about their finances and habits. From budgeting to building credit, people are laying the groundwork for a stronger financial year ahead. With tools like Credit Builder and Credit Spark, plus tailored recommendations to help manage credit and cash flow, Intuit Credit Karma gives consumers practical support as they work towards their 2026 goals. Credit Karma helps turn resolutions into real momentum.
“The best thing you can do after a year of financial challenges is to not let regret paralyze you and stop you from making progress,” said Courtney Alev, consumer financial advocate at Intuit Credit Karma. “Many people struggled with similar issues like impulse buying or not saving enough. The key to success and sticking to better financial habits in the new year is to not just set goals, but to build systems of accountability – whether that’s with a partner, family member, or using a financial app. A shared commitment to making finances a priority is often the turning point.”