Despite inflation falling to its lowest level in two years, 56% of Americans fear their financial futures, and a third are so worried they’re losing sleep, according to a new survey from LendingTree.

The main reasons for their unease: persistently high inflation, low wages and unexpected large expenses such as medical emergencies or car repairs.

What You Need To Know

  • Fifty-six percent of Americans fear their financial futures, according to a new LendingTree survey

  • Parents with children under the age of 18 and individuals who earn less than $35,000 worry the most about their financial futures

  • About a quarter of Americans have not deposited funds into their savings accounts in the past 12 months

  • Americans who are least likely to save make less than $35,000; Gen Xers, consumers without children and women are also more likely to neglect saving

“Many Americans have very little financial margin for error even in the best of times,” LendingTree Chief Credit Analyst Matt Schulz said in a statement. “Add inflation and rising interest rates to the mix, and what little wiggle room they might have had vanishes completely.”

Parents with children under the age of 18 and individuals who earn less than $35,000 worry the most about their financial futures. Gen Xers, women and millennials rounded out the top five groups who are most concerned.

Parents with children under the age of 18 also lose the most sleep over their finances, followed by millennials, Gen Xers, those making between $75,000 and $99,999 and those making less than $35,000.

About a quarter of Americans overall haven’t deposited funds into their savings accounts over the past 12 months, the study found. Vices such as excessive self spending and tobacco products prevented 39% of Americans from putting money away.

Americans who are least likely to save make less than $35,000. Gen Xers, consumers without children and women are also more likely to neglect saving.

Of those who are able to save, 66% are following a budget. Cooking more at home and shopping sales are the most popular ways they are saving money.

As for why they’re saving, most are putting money away for general savings (43%), emergencies (40%) or vacations (37%). About a third of Americans say they save during the week in order to splurge on the weekends — a trend that’s especially prevalent among men and younger generations.