Many Americans may be looking to strengthen their personal finance strategies, and these initiatives are showing some progress.
A total of 48 percent of Americans noted that their financial situation was in good shape, notably improved from 2010’s 51 percent, according to a report from Gallup. The level of those who don’t have a lot of confidence in their finances also slid notably. This figure dropped to 52 percent during the most recent measurement, a decline from the previous high point of 59 percent. The last time these statistics were at such a positive level was in 2008.
More than 70 percent of those polled explained that they had enough money to be able to lead a comfortable life, the report showed. Just 28 percent of respondents did not think this was the case. The latest gain in the positive measurement was notably higher than two years ago, when just 60 percent felt they were in a good position with their finances.
Approximately 45 percent felt that their financial situation was in great shape, while 31 percent explained that they were getting by with what they had, the report noted. Just 25 percent said that their financial standing was in a difficult spot.
Some Americans still worried about finances
Another report noted that some people are a bit more cautious regarding their financial confidence. According to a report from Country Financial, nearly 60 percent of Americans are unsure that those with average incomes will be able to have a secure financial situation.
“Where you are now in terms of your income bracket doesn’t matter as much as where you want to be when it comes to your own financial security,” said Joe Buhrmann, manager of financial security support at Country Financial. “Americans don’t need to be defined by a label. It’s about controlling what you can. It’s not a sprint – it’s a marathon. It’s more about closing the comfort gap and taking positive steps to improve your financial security today.”
A total of 48 percent of respondents noted that it is necessary to make between $50,000 to $100,000 in order to lead a comfortable financial life, the report added. Despite this, only 34 percent felt that the earnings range was actually wealthy. Nearly three-quarters of those who are making less than $50,000 felt that making more than $50,000 would help them become well-off.