Senior Advisor and Research Fellow, Consumer Finance Institute
November 2024
This report is part of a quarterly series on key observations from the Labor, Income, Finances, and Expectations (LIFE) Survey. Data from the survey provide insight into consumers’ recent financial lives and their future expectations.
The data presented in the October 2024 LIFE Survey Report show that consumers’ net sentiment improved between July and October, but respondents continue to feel more negative than last year. We note several key observations about consumers’ financial lives over the past 12 months, including:
One-quarter of respondents reported having trouble paying their bills in October — only a slight increase since July, but the highest rate since the LIFE Survey began data collection.
Among those who can currently pay all their bills, the share of those concerned about making ends meet increased in October; however, it largely remained at a similar level as the prior year.
Respondents’ net optimism about their income for this year improved relative to last year, buoyed in particular by younger respondents, who were more optimistic than prior trends had predicted.
Download expanded data tables featured in the October 2024 LIFE Survey Data Report here.
