Fully 89% of Americans are worried about the cost of living, according to a new CFP Board study, and 63% are concerned about their ability to purchase necessities such as food and clothing.

In an online survey of 944 adults conducted on February 28  the industry organization also found that 87% of respondents are specifically concerned about inflation and price increases, 82% said they are concerned about being able to save money, 72% are buying items on sale, 69% are concerned about preparing for retirement, 65% say they are buying cheaper brands, 64% are cooking at home, 63% are reportedly buying fewer products, 56% worry about job security, and 55% are concerned about paying their rent or mortgage.

“These past several years have not been easy for Americans,” said CFP Board CEO Kevin R. Keller in a press release. “From the pandemic to the latest banking news, uncertainty has been prevalent.”

Concerns about being able to save money are greater among those 45 and older, the survey said. Fully 86% of them express this worry. Only 78% of younger folks do.

On the other hand, 34% of respondents said they had saved more for retirement in the past year. Over that time, 27% said they diversified their portfolios and 21% pushed back retirement.

Just 53% work with or have worked with a financial planner. While older adults are much more likely to have worked with a financial planner, compared to younger adults, 38% of those under 45 say they plan to seek a financial planner--particularly if their income increases substantially, they said, or if the government incentivizes it, or if a trusted person refers them to an advisor.

To Keller, this represents an opportunity. Certified financial planners, he said, “are uniquely positioned to meet this demand and help American consumers navigate uncertainty while prioritizing their short- and long-term financial goals.”

Paying down debt is a big concern on people’s minds. Fully 96% of Americans surveyed said they are most concerned about credit card debt. When it comes to medical debt, 78% listed that as a major concern. For those under 45, student debt was cited as a major concern, with 40% of them listing this. Only 23% of older folks counted student debt among their top concerns.

A full 29% of those under 45 said they are likely to delay credit card payments, and 25% of them expect to delay other loan payments.

When it comes to tapping retirement accounts, 24% of those under 45 says they’re likely to withdraw funds before retirement. On the other hand, 49% of them established or added to an emergency savings account, while 37% of them invested in the stock market.