Most economists now expect a recession to impact jobs and incomes in the U.S. by 2024. If you’re trying to change your spending and saving to prepare, you wouldn’t be alone — 74 percent of Americans are changing how they manage their finances to prepare for an upcoming economic downturn. Economically vulnerable populations like women, minorities and low-income workers feel even less prepared for an upcoming recession.
A recent Bankrate poll asked U.S. adults about their preparedness ahead of a recession before the end of 2023. These statistics break down how different people are trying to tackle their budget:
Key money management statistics
