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With American tariff policies seemingly in constant flux, gauging the financial health of the nation is essential to understanding today’s consumer and anticipating how they may respond in the months ahead. The CivicScience Consumer Financial Health Index (CFHI) tracks how U.S. adults expect their personal finances to change over the next six months. Here’s what the latest data reveal:
A monthly view of the CFHI among Gen Pop reveals a marginal increase of 0.28 points to end May at 60.49. It is the first time the CFHI has registered a month-over-month increase since January. This uptick also aligns with a slight increase in the CivicScience Well-Being Index in May, a key indicator of consumer spending. Even with this slight end-of-month rebound in the CFHI, overall consumer outlook remains well below where it stood this time last year.
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Breaking down by age reveals a shift: Millennials aged 30–44 led May’s financial health with a 0.73-point gain, surpassing Gen Z (18–29) in their personal financial outlook. Gen Xers, who were the most optimistic six months ago, lost ground after their April rebound, dropping to the second-lowest score. Although Americans aged 55+ posted their first improvement since December, they remain the most pessimistic group by a considerable margin.
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A closer look at the CFHI’s individual components reveals two key patterns. First, after months of steady decline, consumer outlook on saving and investing showed modest rebounds in May. The initial shock from the “Liberation Day” tariffs appears to have eased, aided by temporary pauses in harsher tariffs.
While saving and investing outlooks show signs of stabilizing, consumer debt attitudes continue to deteriorate, and could soon overtake ‘investing’ as the CFHI’s weakest link. Debt sentiment dropped another 0.69 points, bringing its total year-to-date decline to 4.8 points. Given the growing reliance on Buy Now, Pay Later, prospects for this drop to halt aren’t looking promising.
Use this Data: CivicScience clients leverage real-time insights like these to predict consumer behavior changes, stay ahead of market disruptions, and identify opportunities for growth and retention, even as economic conditions shift rapidly.
The data make clear that consumer financial health is far from uniform—while some groups are showing signs of stabilization, others continue to struggle, particularly as concerns around debt deepen. Brands, retailers, and marketers that recognize these nuances and adjust their messaging and offerings accordingly will be better positioned to navigate ongoing uncertainty.
