Many Americans feel less optimistic about the future of their finances in 2019.

According to a poll from, 26% think their financial situation will change in 2022 while 42% predict it will not. Bankrate found. YouGov Plc polled 2,450 people on the financial site.

Respondents blame inflation mainly: 73% of respondents who anticipate a decline in their finances point to inflation, while 44% who think their financial position will remain the same agree.

The rate at which prices rise over time is called inflation. This November: consumer pricesAccording to Labor Department, this is the fastest rate since 1982. It rose 6.8% from twelve months ago.

Americans are spending more on gasoline and food, as well as shelter and food. Gas prices have risen 58% since November. Used cars and trucks rose 31%, while new vehicles increased 11%. The cost of food is up 6.8% compared to 12 months ago, while shelter costs have increased by 3.8%.

Bankrate chief financial analyst Greg McBride stated that inflation can further reduce the income of those who are struggling to make ends meet.

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It is a major obstacle for those who are working to reduce their debt and catch up on saving.

The Federal ReserveIt was announced that it would take steps to combat inflation. It will reduce its monthly bond purchases faster and then raise interest rates. The latter is anticipated to occur in the late winter or early Spring. The central banks typically raises interest ratesInflation to be brought down and the economy slowed.

McBride advises you to monitor your spending. looking for opportunitiesTo take advantage of discounts, coupon codes and other loyalty programs.

He said, “It could be redeeming cash-back credit card rewards as a means to defray out of-pocket expenses.”