The data presented in the July 2025 LIFE Survey Report reveal ongoing declines in respondents’ net optimism about their income as well as their general outlook compared with last year. We note several key observations about consumers’ financial lives over the past 12 months, including:

  • Net optimism about income decreased significantly from April to July, reaching its lowest level since October 2023.
  • The shares of respondents cutting discretionary spending, cutting essential spending, or partially paying or skipping bills remain higher than the previous year.
  • Respondents’ net sentiment continued to decrease and is at its lowest point since the beginning of the LIFE Survey. For the first time, sentiment is negative across all demographic groups.

Download expanded data tables featured in the July 2025 LIFE Survey Data Report here.

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