Over half of consumers (54%) have already cut back or plan to reduce their nonessential spending as a result of tariff-related price hikes, according to the results of a new survey by Achieve, the leader in digital personal finance.

• Price pessimism: 67% of respondents expect the cost of groceries to worsen

• Reluctance to take on new debt: 59% say they are not likely to take on additional debt in the next six months.

• Retail supply strain: 57% believe tariffs will worsen retailers' and merchants' abilities to keep everyday essentials in stock.

• Household constraint: 44% expect tariffs to have a negative impact on their household budget

• Delayed large purchases: 43% of Americans are delaying or avoiding large purchases.

• Trouble making ends meet: 39% of respondents say recent tariff policy changes have made it harder to make ends meet, prompting concern that many won't be able to adapt financially if prices keep rising.

"These results point to a broader trend of financial caution and stress, particularly for the significant share of Americans operating on thin financial margins," said Achieve Center for Consumer Insights Analyst Austin Kilgore. "Even minor price shocks can have a substantial impact on their ability to cover essential expenses."

Generational financial fears

The survey shows that concern spans all age groups. Gen Z (43%), Millennials (38%), Gen X (41%) and Baby Boomers (36%) say tariffs will make it harder to make ends meet. The numbers are nearly consistent across generations, underscoring that no group is immune from the financial strain of rising prices.

The knowledge and confidence deficit

The knowledge gap isn't just about data; it's about a lack of confidence. Overall, 68% report having a less-than-strong understanding of how tariffs affect their finances. This lack of clarity contributes to widespread unease, particularly among younger adults, who are already more likely to feel anxious about their ability to withstand financial pressure.

The affluent are not immune

Even higher-income households are adjusting. Among those earning $50,000 or more, 45% are delaying or avoiding large purchases because of tariffs. This highlights how concerns about rising costs are reshaping spending decisions across the economic spectrum.

The results of the survey highlight a significant disconnect between government policy and the average American household's preparedness. As a majority of consumers express financial stress and a lack of confidence in their ability to adapt, these findings serve as a wake-up call for better communication and resources to help people navigate a more complex economic landscape.