What do the next three months look like for the United States economy?
That’s the question that’s seemingly on the tip of everyone’s tongue ever since the U.S. imposed sweeping tariffs on several countries around the world. Accordingly, bank customers in the U.S. are trying to figure out exactly what that will mean for their finances, particularly those who are struggling.
According to JD Power data, 35% of customers are financially healthy,[1] a new 13-month high. But even as customers seem to be gaining some ground on the financial health front, many are expressing uneasiness about their future finances.
Financial Health Gets Another Boost
The number of customers who are financially healthy increased to 35%, a 13-month high. As observed between January and February, this trend may not be long-lasting, but after financial health was stagnant for so long, the fact that there has been more movement of late could be seen as a positive development.
The percentage of bank customers who say the cost of goods is increasing faster than their income fell slightly to 66%. Stressed customers (83%) were most likely to say they are grappling with the cost of goods, up from 81%. Just 51% of healthy customers say they are having trouble keeping up with the cost of goods, down from 58%.
Tough Times Ahead?
Less than half (43%) of customers say their current financial situation is stable and secure. That rate is virtually identical for customers under 40 and over the age of 40 (42% vs. 43%, respectively).
Conversely, 41% believe their financial situation is at risk of getting worse in the next three months. While stressed customers (45%) were most likely to agree that their finances are at risk, healthy customers (42%) are not far behind.
When asked about the root of their fears, 63% believe that their cost of living will be worse in the next three months, while 34% say they will have trouble managing housing costs, and 26% say the stock market will decline and hurt their investments.
Rising to the Challenge
Customers have been operating under the specter of another economic downturn for years. And while that has never fully materialized, the most recent events have certainly sparked some concern. That is enough to get many customers wondering if this is finally the other shoe getting ready to drop.
As the U.S. sits down with various countries to negotiate these tariffs, those fears may soon be quelled. But regardless of the specifics of the next several months, one thing is certain: Customers will likely seek counsel in the entities they know best. Banks need to be prepared to step up in times of uncertainty and help customers navigate these unpredictable times. Those that can help will enjoy better customer relationships and financially healthier clientele.
Find out More
This Banking and Payments Intelligence Report is based on responses from 4,000 retail bank customers nationwide and was fielded in March 2025. It was authored by Jennifer White, senior director of banking and payments intelligence at JD Power. Please contact us at the numbers below to connect with Ms. White or to learn more about the underlying research.
Media Contacts
Brian Jaklitsch; East Coast; 631-584-2200; [email protected]
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
[1] JD Power measures the financial health of any consumer as a metric combining their spending/savings ratio, creditworthiness, and safety net items like insurance coverage. Consumers are placed on a continuum from healthy to vulnerable.