February of 2023 — How We’re Feeling Financially

A new Gallup poll on the finances of Americans has found that most of us think we are worse off financially so far this year than we were at this time last year. It’s the biggest drop since 2009.

  • 61% of those with incomes of less than $40,000 a year say they are worse off
  • 49% of those in middle-class households feel that way
  • Just 43% of high income households say they are worse off

Gallup said these are the three top issues that concern Americans:

  • High inflation
  • Rising interest rates
  • Stock values dropping

We are — oddly — optimistic about the future. At least that’s the conclusion of Gallup’s Jeffrey Jones. He said 60% of us think we’ll be better off a year from now.

That statement can be a bit misleading. Jones said Americans tend to always think their finances will get better and not worse. That — Jones noted — could be really good news going forward.

“If this optimism holds and consumers act accordingly, it may help to minimize or avert an economic recession,” he said.

Source link: Oregon Live — http://bit.ly/3S0QpJ5

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