©Dave RamseyCommitment to Our ReadersGOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.20 YearsHelping You Live RicherReviewed by ExpertsTrusted by Millions of ReadersWhat does the state of finances look like for most Americans today? To find out, the Ramsey Solutions team polled over 1,000 Americans about their own financial health and how they view the financial health of the country. While Americans are struggling with things such as inflation and debt, there are some learnings we can glean from these struggles — and every challenge has a solution.Here are some of the key takeaways from Ramsey’s latest report.Americans Believe the President Has a Major Impact on Their FinancesAccording to the report, most Americans (52%) believe the president has a major impact on their personal finances. This belief is held pretty evenly by both men and women (54% and 50%). However, conservatives are more likely than liberals to believe in the president’s impact on their finances (67% versus 52%).What Ramsey SaysWhile Dave Ramsey publicly endorsed now-President-elect Donald Trump, he has noted that the president doesn’t directly impact personal finances as much as many Americans believe. When discussing whether Trump or Vice President Kamala Harris would be better for individuals’ finances, Ramsey said that “neither one of these people are going to be your savior.” “You’re going to have to look in the mirror and change your life,” he said while appearing on “Cavuto Coast to Coast.” “What happens at your house is a whole lot more important than what happens in the White House.”Americans Are Worried About the Economy and InflationThe survey found that 78% of Americans are worried about the strength of the U.S. economy, with the top economic concern being inflation — 64% of Americans are “extremely” or “very concerned” about rising prices.What Ramsey SaysWhile inflation may be out of your hands, there are things you can do to save money amid high prices. The Ramsey Solutions team offered the following strategies:Prioritize needs over wants at the grocery store.
Shop at inexpensive grocery stores.
Use an app like GasBuddy or Waze to find cheap gas near you.
Adjust your thermostat and be mindful of appliance usage to save on utilities.
Consider moving to an area with lower living costs.
Americans Are Taking On More DebtDue to rising prices, a challenging job market and other factors, many Americans are taking on more debt. According to the report, more than one-third of Americans (36%) said their debt load had increased in the past three months. Another one-third (34%) are now carrying more than $10,000 in consumer debt. This held true for different i
