The fear of an unsustainable financial future has spread globally, as the 'vibecession' phenomenon gains traction.

• In every country studied globally, approximately half of adults report being stressed about their personal finances, despite a robust worldwide economy, according to recent CNBC|SurveyMonkey research.
• A survey of over 4,000 adults in eight countries, including the U.S., Mexico, Australia, Singapore, the UK, Spain, France, Switzerland, and Germany, revealed that inflation and rising prices remain the top financial concern.
• More than half of adults worldwide identify as middle class, but half of them admit to living paycheck to paycheck.

If you ask someone on the street about the economy today, they are likely to respond with "Not well."

Despite inflation, layoffs, geopolitical tensions, and recession worries, the global economy is doing well according to most major metrics. The International Monetary Fund has reported that we have avoided a major economic downturn, although global growth remains modest. Experts agree that pandemic supply chain issues have largely been resolved. Additionally, joblessness has dropped below pre-pandemic levels, despite experts keeping an eye on global unemployment.

Despite the global economy's muted health in some areas, the average person's perceptions of it are not reflecting this. A new CNBC|SurveyMonkey International Your Money Financial Security Survey shows that roughly half of adults worldwide are stressed about their personal finances.

Rising prices and pessimism about the next generation

A survey of over 4,000 adults in eight countries found that around the world, roughly half of adults are stressed about personal finance. Inflation is the leading financial stressor among adults globally. Across all countries, nearly half of all adults (or more) cite rising prices as a contributing factor to financial stress globally. The highest percentage of adults citing inflation as a stressor was in Germany (66%) and the United States (65%), while the lowest percentage was in Switzerland (48%) and Singapore (46%).

Parents in most countries except for the U.S., Mexico, and Singapore expect their children to be worse off financially in the long term. Optimism is particularly low in Europe, with the lowest percentage of parents in Spain and France believing their children will be better off than they are.

In Germany and Spain, only 28% of respondents feel better off financially than their parents were at the same age, while in the U.S., only 37% feel the same. Notably, Singapore is the only country where the majority (60%) feel better off financially than their parents were at the same age.

Middle class — but also living paycheck-to-paycheck

The majority of adults worldwide identify as middle class, with the exception of those in the UK, where only 37% do so. European countries, excluding the UK, have the highest percentage of adults who consider themselves middle class, with the US having slightly more than half (54%).

Despite the common belief that financial stability is attainable, nearly half of adults worldwide who identify as middle class still struggle to make ends meet.

Not enough saved for retirement

While France and Singapore have the highest percentage of adults who are on schedule or ahead of schedule for retirement savings, only about half of adults in the U.S., Australia, and Germany are on track or ahead of schedule with their retirement planning.

Government assistance is expected by most adults in retirement, with varying levels of preparation. France and Germany have the highest percentage of adults who do not expect to need government assistance, at 39% and 33%, respectively. On the other hand, Singapore, Australia, Spain, and the U.S. have the highest percentage of adults who expect to rely on the government to some degree in retirement, at 83%, 79%, 77%, and 74%, respectively.

Although most respondents anticipate requiring government assistance in retirement, many are uncertain about their government's ability to provide it. In France and Germany, only 34% and 35% respectively, are confident in their government's ability to support them in retirement. On the other hand, Singaporeans are the most confident, with 78% reporting they believe their government can offer support. In the U.S., just 42% of respondents are confident that the government will provide support in retirement.

Financial stress is a major issue in most countries except for France. While nearly all adults worldwide have some savings, only about half of them have an emergency fund. The percentage of adults with an emergency fund varies greatly among countries, with Singapore having the highest percentage at 73% and France having the lowest at 40%.

An unsustainable financial future?

No debt, home ownership, and high levels of savings are what our respondents believe financial security would entail.

The journey to financial security is more challenging than ever. Although methods differ among nations, the most prevalent routes to achieving financial stability are through frugality and obtaining a well-compensated job. In the U.S., Australia, the UK, and France, adults value frugality as a means to financial security. On the other hand, respondents in Mexico, Singapore, and Spain prioritize having a well-paying and stable job over being frugal.

Although personal anxiety is common in the study, some respondents expressed optimism about their country's economic future. Mexico and Singapore stand out as particularly optimistic, with 74% and 79% of adults, respectively, saying they are optimistic about their economy's direction. Despite these outliers, only 49% of adults worldwide are optimistic, while 51% are pessimistic. The gap between expert and citizen assessments of a nation's economic performance is starkly illustrated by this delta.

To avoid a prolonged economic downturn, governments must comprehend the intricate perspectives on personal financial security. If individuals' financial stability does not improve, governments should prepare for persistent economic anxiety and a surge of retirees who are unable to sustain themselves, leading to an unsustainable future.