Feeling Good

A new study found a majority of Americans are feeling positive about money

A new Gallup survey of adult Americans has found that most people are feeling optimistic about their money and financial situation. The confidence coincides with the economy’s upswing — 2019’s first quarter was the strongest first quarter for the economy in four years.

The study of more than 1,000 people revealed that a majority of Americans (56 percent), viewed their finances as “excellent” or “good.” That percentage is up 10 percent since 2015 and the highest level since 2012. Fifty-seven percent of Americans also said their financial situation is “improving,” the highest percentage since 2002. Part of this financial confidence stems from stacking savings. The Gallup report showed that 56 percent of Americans are currently saving money, with 19 percent claiming they save “a lot” and 37 percent claiming they save “a little.”

While the percentage of Americans who worry about money “most of the time” has dropped from 37 percent in 2008 to just 25 percent in 2019, there are still some concerns. The two most popular money worries were “Saving enough for retirement” and “unplanned medical costs,” at 54 percent and 51 percent, respectively.
If those money matters are on your mind, take action to alleviate the worries. Update your budget and reduce unnecessary expenses. Make sure you’re maxing out your 401(k), especially if you have an employer-match. Add additional income if you can. Every step you take will get you closer to your goals.

Chris O'Shea

Chris O'Shea