Provident Bank Reports 64% Concern, 61% Alter Credit Card Usage
Provident Bank’s 2026 survey finds 64% of U.S. adults concerned about rising living costs, with grocery prices up 63%, gasoline up 46% and auto insurance premiums up 66%. 61% of respondents altered credit-card usage, 20% postponed home purchases due to high mortgage rates and 58% call financial education offerings essential.
1. Survey Scope
Provident Bank surveyed 1,000 U.S. adults across all four census regions, spanning ages 18 to 65+, income levels and employment statuses, to gauge the impact of inflation, interest rates and financial guidance needs on household finances in 2026.
2. Living Cost Pressures
Nearly 64% of respondents report extreme or high concern about the cost of living. Groceries lead expense worries at 63%, followed by gasoline at 46% and utilities at 33%, while 66% noted significant auto insurance increases and 60% saw home insurance hikes.
3. Credit and Housing Responses
More than 61% have changed credit-card habits—32% are paying down debt faster and 21% stopped nonessential spending—while 20% are delaying home purchases due to elevated mortgage rates and over 11% remain in their homes to retain lower existing rates.
4. Demand for Financial Education
Fifty-eight percent of consumers view financial literacy programs as essential when choosing a bank, yet only 29% find current offerings helpful and nearly 30% have seen no resources. Demand is highest among Gen-Z (83%) and Millennials (73%).