Despite a challenging year marked by a global pandemic, a contentious election and dramatic swings in the financial markets, many Americans report feeling confident about their financial security, although they are also re-evaluating their financial habits and goals as a result of the events of the past year.
That’s according to a new survey conducted by insurance and financial services firm COUNTRY Financial Security, Bloomington, IL, which found 55 percent of Americans rated their financial security positively, compared to 53 percent who answered the same this time last year, prior to the pandemic. The survey finds Americans are feeling optimistic about their finances in the new year with 38 percent believing that their finances will improve in 2021, while 36 percent believe that their finances will stay the same. Only 18 percent believe they will worsen.
“There are many reasons Americans could be feeling good about their financial futures right now,” say Troy Frerichs, vice president of Investment Services at COUNTRY Financial. “Savings rates have gone up, we are hearing positive news about a COVID-19 vaccine and the stock market is at an all-time high. It is encouraging to see that even though many are suffering from pandemic fatigue and there is so much that is out of their control, Americans are taking steps to improve their financial security now and in the new year.”
When asked what their top financial goals are for 2021, 32 percent of Americans said they wanted to control their spending, 29 percent said saving for an emergency fund, 27 percent said paying down credit card or student loan debt and 24 percent said saving for retirement.
Survey: More Americans Confident About Their Financial Security
