Americans are the most optimistic about their finances in the last 18 years

7
2 minutes
Americans are the most optimistic about their finances in the last 18 years

More Americans think their finances this year are in a better place than they did at the start of the pandemic, says a new Gallup survey.

As of April 2021, 57% of Americans think that they consider their financial situation to be good or excellent according to the analytics firm's findings.

This percentage is three points higher than what Americans reported being felt in April 2020 and eight points higher than June 2020.

The last time Americans were so optimistic about their finances was 2019, which has 50 percent of Americans saying they were in the green aisle.Another close second was 2007, with 55% of Americans saying the same, according to Gallup data that dates back to 2003.

If these findings are correct, now Americans can be the most optimistic they have ever been about their personal finances in the last 18 years.

Likewise, 52% of respondents who wrote the survey reported that they had experienced improvement in their financial situations this year.At the start of the pandemic, only 35% of Americans said that they had seen improvements with money.

Gallup's survey comes at a time when the U.S. is closing directly with more than 235 million coronavirus vaccines implemented, according to data from the CDC and the U.S. census.Some 98 million Americans are fully vaccinated.

Earlier in the month, the CDC reported that 1 in 4 Americans were completely vaccinated, which equated to around 64.2 million people who are 18 or older.

While finances for more than half of Americans are in better shape than last year, there are some groups that don't feel the same way.

According to Gallup, 25% of respondents indicated that they felt negatively about their financial situation.Twenty-eight percent reported having bad sentiments about money which were a mix of good and bad.

Gallup's survey found that American middle-class youth and people who are part of the New American Middle Class were two demographics which had pessimistic views of their current and future finances.

For example, only 36% of the U.S. adults between 18 and 34 thought positive their finances compared to the 50% of U.K. adults between the ages of 35 and 54.Even half of Americans older than 55 viewed their finances positively.

In the same way, wealthy Americans who made $100,000 or more per year positively viewed their finances compared to Americans who made $40,000 to $99,999 per year.Only a quarter of Americans who made less than $40,000 per year feel the same.

Gallup found that a higher share of Americans who are lean party were overall Democratic or democratic at 55%.A little more than a third of Americans who are lean Republican reported feeling the same about their finances.

  • Comments
Loading comments...