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Americans’ Financial Woes Lowest In Years

2013/05/07 by editor

Good news on the financial front, folks! Apparently, American consumers are less worried about finances and money than we were last year, and the year before, and the year before that. In fact, according to Gallup Wellbeing, Americans’ financial worry has overall dipped to the lowest level that we’ve seen since 2007, aka pre-recession. That should make us all feel pretty good, right? Obviously there is a shift in the U.S. economy that people are picking up on. Employment is up, people feel more financially secure, things are heading in the right direction. In my mind, there was one topic missing from the seven financial potential “stressors” that Gallup Wellbeing polled Americans on, and that question would go something like this: how worried are you about your credit score or your ability to get a loan? Maybe something to add for next year, no? Here is what Jeffrey M. Jones of Gallup Wellbeing had to report:

Gallup’s Financial Worry Graph

“Americans’ financial worry has eased to the lowest level since before the recession. Gallup classifies 53% of Americans as highly or moderately worried about their finances, down from a peak of 61% a year ago, and the lowest since 45% in 2007.

The results are based on Gallup’s annual Economy and Personal Finance survey, conducted each April beginning in 2001. As part of the survey, Gallup has asked Americans how much they worry about seven different personal financial matters, including retirement, maintaining their current standard of living, medical costs, housing costs, and paying normal monthly bills.”

Click here to read more about the survey, and see exactly how Americans ranked each financial worry.

Overall, I think it’s a great sign that we’re moving away from the recession–physically and emotionally. Americans are less stressed about money and finances in general, and that takes a huge weight off of our shoulders whether we realize it or not.


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