Americans say they spend more than 60% of their income on mandatory expenses and more than a quarter are skipping meals

Empty-Plate A recent Credit Karma study found that 27% of Americans surveyed are skipping meals because of inflation. (Richard Baker / In Pictures via Getty Images / Getty Images)

Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • More than a quarter of Americans have resorted to skipping meals to avoid paying inflated grocery store prices, according to a new survey.
  • According to a study by Qualtrics on behalf of Intuit Credit Karma, 80% of Americans say they have felt a “notable increase” in grocery costs in recent years. More than a quarter of respondents said the increased cost has led them to occasionally skip meals, while about one-third said they spend more than 60% of their monthly income on mandatory expenses such as food, utilities and rent.
  • “Food insecurity is a major issue in this country as millions of Americans don’t have enough food to eat or don’t have access to healthy food,” Courtney Alev, a consumer financial advocate at Credit Karma, said in a statement.
  • Of the Americans surveyed in the Credit Karma poll, 44% reported feeling financially unstable. This feeling is strongest among households making less than $50,000.
  • The rising cost of living is also a likely factor in the increasing number of Americans taking on debt (55%).
  • A large majority of consumers (80%) said they felt the most notable increases in expenses were for groceries, followed by gasoline, utilities, housing and dining out.

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