More Americans have brighter outlook on state of finances for next year: survey

As the new year approaches, more Americans have a brighter outlook for the state of their personal finances in 2025, a recent survey indicated. 

Bankrate said Thursday its survey found that 44% of American adults expect to see their financial situation become either “somewhat” or “significantly better” next year, a 7 percentage-point increase from the roughly same time last year. 

The survey, conducted on the personal finance site’s behalf by YouGov, took place Nov. 6, the day after the 2024 election, through Nov. 8 and involved nearly 2,500 American adults. 

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Less inflation was the most common driver behind the rosy outlooks, with 36% of Americans pointing to that, according to the data.

The U.S. saw inflation measured by the Consumer Price Index increase 0.3% month-over-month and 2.7% year-over-year in November, the government reported. 

Other factors played into positive financial expectations for 2025, the survey found.

For instance, over one-third of Americans that anticipate they will see better personal finances in 2025 reported “rising income” as helping guide their positive outlook. A slightly lower share (30%) pointed to “having less debt,” while “work done by elected representatives” and “better spending habits” also factored into optimism for 25%.

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

Meanwhile, Bankrate found Thursday that 33% of Americans foresee the state of their finances remaining as they currently are next year. 

Just shy of a quarter of Americans held gloomier expectations for their financial situations, reporting they anticipated things would become “somewhat” or “significantly worse,” the Bankrate survey showed.

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Inflation also had the most weight for U.S. adults anticipating worsening finances. That was followed by “work done by elected representatives” cited by 30%, “stagnant or reduced income” cited by 28% and debt holdings by 20%, among other factors, according to Bankrate. 

“Post-election, our survey finds that some Americans see elected officials either as a reason why their finances might not improve (or why they will), affirming a continuing political divide. No matter where someone stands along the political spectrum, the opportunity remains for all to identify financial goals and to act upon them,” Mark Hamrick, a senior economic analyst at Bankrate, said in a statement. 

About 21% of Americans have their sights set on reducing their debt in the coming year, the survey found. 

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As of the third quarter, American households collectively owed $17.94 trillion worth of debt, including things like mortgages, auto loans, credit cards and student loans, according to the Federal Reserve Bank of New York. 

Americans had $12.59 trillion in mortgage balances in the third quarter, for instance. Student loans amounted to $1.61 trillion, while auto loans totalled $1.64 trillion, the New York Fed found.