{"id":38917,"date":"2024-12-15T16:24:53","date_gmt":"2024-12-15T16:24:53","guid":{"rendered":"https:\/\/isafespend.com\/?p=38917"},"modified":"2024-12-15T16:24:53","modified_gmt":"2024-12-15T16:24:53","slug":"more-americans-have-brighter-outlook-on-state-of-finances-for-next-year-survey","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=38917","title":{"rendered":"More Americans have brighter outlook on state of finances for next year: survey"},"content":{"rendered":"
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As the new year approaches, more Americans have a brighter outlook for the state of their personal finances in 2025, a recent survey indicated.\u00a0<\/p>\n

Bankrate said Thursday\u00a0its survey found that 44% of American adults expect to see their financial situation become either “somewhat” or “significantly better” next year, a 7 percentage-point increase from the roughly same time last year.\u00a0<\/p>\n

The survey, conducted on the personal finance site\u2019s behalf by YouGov, took place Nov. 6, the day after the 2024 election, through Nov. 8 and involved nearly 2,500 American adults.\u00a0<\/p>\n

NEARLY 60% OF AMERICANS SAY $100K INCOME REQUIRED TO CURB EXPENSES ANXIETY: STUDY<\/strong><\/p>\n

Less inflation was the most common driver behind the rosy outlooks, with 36% of Americans pointing to that, according to the data.<\/p>\n

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The U.S. saw inflation measured by the Consumer Price Index increase 0.3% month-over-month and 2.7% year-over-year in November, the government reported.\u00a0<\/p>\n

Other factors played into positive financial expectations for 2025, the survey found.<\/p>\n

For instance, over one-third of Americans that anticipate they will see better personal finances in 2025 reported “rising income” as helping guide their positive outlook. A slightly lower share (30%) pointed to “having less debt,” while “work done by elected representatives” and “better spending habits” also factored into optimism for 25%.<\/p>\n

A separate July survey from Discover Personal Loans had reported 80% of Americans were experiencing “some level” of anxiety stemming from finances.\u00a0<\/p>\n

Meanwhile, Bankrate found Thursday that 33% of Americans foresee the state of their finances remaining as they currently are next year.\u00a0<\/p>\n

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Just shy of a quarter of Americans held gloomier expectations for their financial situations, reporting they anticipated things would become “somewhat” or “significantly worse,” the Bankrate survey showed.<\/p>\n

US CREDIT CARDHOLDERS IN \u2018CRISIS\u2019 AS THEY FACE AN \u2018ADDITION\u2019 TO SPENDING, FINANCIAL EXPERT WARNS<\/strong><\/p>\n

Inflation also had the most weight for U.S. adults anticipating worsening finances. That was followed by “work done by elected representatives” cited by 30%, “stagnant or reduced income” cited by 28% and debt holdings by 20%, among other factors, according to Bankrate.\u00a0<\/p>\n

“Post-election, our survey finds that some Americans see elected officials either as a reason why their finances might not improve (or why they will), affirming a continuing political divide. No matter where someone stands along the political spectrum, the opportunity remains for all to identify financial goals and to act upon them,” Mark Hamrick, a senior economic analyst at Bankrate, said in a statement.\u00a0<\/p>\n

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About 21% of Americans have their sights set on reducing their debt in the coming year, the survey found.\u00a0<\/p>\n

AMERICANS’ HOUSEHOLD DEBT SURGED IN RECENT YEARS AMID CHALLENGING CONSUMER ENVIRONMENT<\/strong><\/p>\n

As of the third quarter, American households collectively owed $17.94 trillion worth of debt, including things like mortgages, auto loans, credit cards and student loans,\u00a0according to the Federal Reserve Bank of New York.\u00a0<\/p>\n

Americans had $12.59 trillion in mortgage balances in the third quarter, for instance. Student loans amounted to $1.61 trillion, while auto loans totalled $1.64 trillion, the New York Fed found.<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As the new year approaches, more Americans have a brighter outlook for the state of their personal finances in 2025, a recent survey indicated.\u00a0 Bankrate said Thursday\u00a0its survey found that 44% of American adults expect to see their financial situation become either “somewhat” or “significantly better” next year, a 7 percentage-point increase from the roughly<\/p>\n","protected":false},"author":1,"featured_media":9062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[32],"class_list":{"0":"post-38917","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-featured"},"yoast_head":"\nMore Americans have brighter outlook on state of finances for next year: survey | iSafeSpend<\/title>\n<meta name=\"description\" content=\"As the new year approaches, more Americans have a brighter outlook for the state of 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