How are you feeling about your financial situation right now? That’s what a new survey asks 2-thousand U.S. adults and it turns out, only 13% report feeling “very good”, while 28% feel “somewhat good.”
But that’s leading many Americans to try to be smart about their money and their financial futures. According to the survey, 84% say setting themselves up for future financial success is more important than ever.
- Half (51%) admit the current economic uncertainty has inspired them to take steps to improve their financial knowledge and 59% want to boost their financial understanding.
- To do this, they plan to track their spending (69%), read financial news regularly (28%), use a budgeting app (28%) and be more open with family about their finances to help encourage conversations.
- Right now, 74% currently manage their own finances, but only half say they have “a lot” of trust in themselves.
- A fifth of all respondents never got any financial education from their parents, but that skyrockets to 35% for baby boomers.
- Over the last year, 18% have started feeling more disappointed with financial institutions like banks.
- Now, three-quarters (76%) say they’d like to empower themselves to better manage their money.
- To work toward their financial goals, people are focused on saving money (53%) and paying down or eliminating debt (32%).
- They’re also working toward not having to worry about bills (27%), setting up a “rainy day” or emergency fund (27%) and raising their credit score (26%).
Source: Talker