Crisis and loneliness in the USA: Two thirds of people avoid parties due to lack of money

The metallic-embossed-finish invitation to a tropical destination wedding arrives in your mailbox, and the instinct is familiar: make up an excuse and discreetly hope no one asks why. For tens of millions of Americans, that excuse has a name — and it’s not something they’re willing to say out loud.

Two-thirds of Americans missed at least one social commitment in the last two years because they simply couldn’t afford it, according to new CFP Board research shared with Fortune. Events that are being left out are not always luxuries. There are birthday dinners, shows, holiday gatherings, as well as group trips and weddings.

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But in most cases, people hide the real reason why they cannot accept the invitation. Among those who declined invitations, 56% never told friends or family that the reason was money, according to the report. The CFP Board, a professional body for personal financial planners, polled more than 1,100 Americans between the ages of 25 and 64 in January for the study.

Skipping social events to save money

Silence says a lot — and it’s only making Americans lonelier and anxious to talk about their financial situation with friends and family.

“Lately I’ve been turning down invitations to hang out because I just can’t afford it, and it’s starting to make me feel guilty,” wrote one Reddit user late last year. “I don’t want my friends to think I don’t care about them, but even small things like dinner or drinks are getting too expensive now.”

The problem is so widespread that content creators about personal finances have even started publishing guides on how to politely decline invitations for this reason.

“You know when you get an invitation to a wedding or bachelorette party, you can say no,” Vivian Tu, head of financial education at SoFi, posted in a TikTok video in October 2025.

“One in three people is going into debt because of their friends’ weddings,” continued Vivian Tu, citing a New York Magazine report about bridesmaids who go into debt. She suggests being open and honest about your reasons for declining the invitation.

She suggests saying: “Congratulations on your engagement, friend! I would be honored to be your godmother. But I need to be transparent: I’m paying my credit card bill and saving for a down payment on a property.”

“And my budget is X,” he continued. “But I don’t want your vision for this special day and big events to be limited because of me, so it’s okay for me to come as a guest and support you in other ways.”

Financial stress worsens loneliness epidemic in the US

The United States was already dealing with what health officials call a loneliness epidemic, and the cost-of-living crisis has only intensified it. A November 2025 survey from the American Psychological Association shows that more than 6 in 10 U.S. adults say social division is a significant source of stress in their lives.

“This year’s results show that people across the country are not only feeling divided, but also disconnected,” said Arthur C. Evans Jr., PhD, CEO of the APA, in a statement. “Research indicates that feelings of isolation and social fragmentation can have real consequences for our ability to deal with stress and stay healthy.”

And a May 2025 study from the University of Southern California found that financial pressure is directly linked to higher rates of anxiety and loneliness, and these effects accumulate over time.

“Because this pressure is based on how people perceive their financial stability, rather than just how much they earn or what degrees they have, it may better reflect the lived reality of daily stress and coping capacity,” said psychologist Deborah Finkel, a researcher at the USC Dornsife Center for Economic and Social Research who led the study.

Generation Z and millennials cannot afford their social lives

For younger Americans, the bill is especially harsh. A 2025 Harvard Kennedy School survey found that 42% of Americans under 30 say they are “barely getting by” financially, and a Bank of America study showed that more than half of Gen Z say they don’t make enough money to live the life they want.

New data from the CFP Board shows the scope of the social impact of financial restrictions.

Events that Americans are missing out on include group trips, dining out with friends, concerts or sporting events, holiday family gatherings, and weddings.

Single Americans are more likely to hide this, with 63% saying they hid the financial reason for refusing, compared to 55% among married people.

The CFP Board classifies this phenomenon as Financial Fomo (Fomo is “fear of missing out” – fear of losing something). It’s not just about missing out on good times, but feeling “out of step” with your friends’ spending, including housing, travel, career, progress, and debt payments.

Almost half say that the financial situation of people close to them significantly influenced the way they view their own money.

Despite this, the CFP Board also found that talking about money is still taboo. More than 80% of Americans intentionally avoid at least one financial topic with people close to them.

A July 2025 survey from AMFM Healthcare also found that 79% of Americans say money worries have gotten worse, harming relationships and even sleep.

But some Americans have realized the need for more transparency to avoid social isolation.

“I started being honest about it and suggesting things like ‘let’s stay at someone’s house’ or go for a walk,” another Reddit user wrote. “Real friends understand, and those who don’t probably aren’t even worth the worry.”