People are currently most concerned about food costs, QU poll says

Food prices top financial fears, according to QU poll
Published: Mar. 30, 2023 at 9:55 PM EDT
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(WFSB) - A poll out Thursday by Quinnipiac University breaks down the issues people are most worried about.

The poll looked at a few things and it found the number one concern is the cost of food.

It’s changed how we shop, what we buy and especially eating out.

“We haven’t eat out in 12 months. We stay at home, try not to spend money and the cost of food at the grocery store is sky high,” said Bill Cummings of Norfolk.

Restaurant owners know this all too well.  It’s costing them more to serve their customers.

Here’s what a Quinnipiac University poll found when it comes to the top financial concerns:

  • Food costs lead with 22%
  • Retirement savings 18%
  • Healthcare costs 17%

Alyssa Milardo isn’t thinking too much about retirement.

She just graduated from college and got a nursing job but is struggling to put money aside.

“Paying what you are supposed to be paying like car payments, student loans, putting money aside to save for the house, your car payment, it’s hard,” said Alyssa Milardo of Portland.

The poll also found 68% feel they won’t have enough money to retire and 52% say it would be difficult to pay an unexpected bill of $1,000.

“Because the income level is not raising as fast as at least at the inflation level,” said Professor Osman Kilic, Quinnipiac University Finance Professor.

Kilic said the real income level has been declining for such a long time.

With concerns about saving for the future and the rising costs of healthcare, people are trying to cut back in any way they can.

“Right now, especially during this month because we are in tax season. April 15th is right around the corner. People are either paying or receiving. People who are receiving we may see them in April, the ones that are paying- we may not see until June,” said Fran Delmastro, owner of Bar Baja.

While the job market is good, inflation is still a big issue, and it could be a while before we see prices go down. And that has many of us worried about our finances.