More Americans have brighter expectations about next year’s financial health: Survey

As the new year approaches, more Americans have brighter expectations for the state of their personal finances in 2025, a recent poll shows.

Bankrate said Thursday Clear it It found that 44% of American adults expect to see their financial situation become “somewhat better” or “significantly better” in the next year, an increase of 7 percentage points from about the same time last year.

The poll was conducted on behalf of the personal finance site by YouGov, on November 6, the day after the 2024 election, through November 8, and included nearly 2,500 American adults.

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Lower inflation was the most common driver behind inflation Rosy views36% of Americans indicated this, according to the data.

She saw the United States Economic inflation The government reported that the CPI increased by 0.3% on a monthly basis and 2.7% on a yearly basis in November.

The survey found that other factors played a role in the positive financial outlook for 2025.

For example, more than a third of Americans who expect they will see better personal finances in 2025 report that “higher income” helps guide their positive expectations. A slightly smaller share (30%) indicated “having less debt,” while “work that was done before Elected representatives“And “better spending habits” also factored into the 25% optimism.

A separate July survey from Discover Personal Loans reported that 80% of Americans were experiencing “some level” of anxiety caused by finances.

Meanwhile, Bankrate on Thursday found that 33% of Americans expect the state of their finances to remain as they currently are in the next year.

The Bankrate survey showed that nearly a quarter of Americans have a gloomier outlook for their finances, reporting that they expect things to get “somewhat” or “much worse.”

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Inflation also weighed the most for US adults who expect financial conditions to deteriorate. This was followed by “work done by elected representatives” cited by 30%, “stagnant or low income” cited by 28% and debt holdings cited by 20%, among other factors, according to Bankrate.

“After the election, our poll showed that some Americans look to elected officials as either a reason why their finances won’t improve (or why they will), underscoring the persistence of political division. Regardless of where someone stands along the political spectrum, opportunity remains,” said Mark Hamrick, senior executive. Economic analysts at Bankrate, in a statement: “Everyone should set financial goals and work to achieve them.”

About 21% of Americans have their sights set on it Reducing their debts Next year, the survey found.

US household debt has risen in recent years amid a difficult consumer environment

As of the third quarter, U.S. households had a combined debt value of $17.94 trillion, including things like mortgages, car loans, credit cards and student loans. according to Federal Reserve Bank of New York.

For example, Americans had $12.59 trillion in mortgage balances in the third quarter. The Federal Reserve Bank of New York found that student loans reached $1.61 trillion, while auto loans totaled $1.64 trillion.