Poll Shows Surge in Economic Optimism
A new poll shows that a surge in economic optimism is developing as the U.S. recovers from the Great Recession.
A new Money Journal poll shows that the majority of those surveyed are more optimistic about their own financial situation than a year ago. The poll found that 50% of respondents feel better about their economic situation than one year ago.
The poll is the first real sign that Americans are feeling better about their finances since the financial crisis hit the U.S. five years ago this summer. However, more than one out of three surveyed said they did not feel any better about their financial standing these days.
The way people feel about their own financial status is paramount in relationship to an economic recovery.
The Wealth Effect is the way people feel about their own financial status. Sociologists say the better a person feels about their personal finances, the more apt they are to make major purchases on cars and other household appliances. Taking risks on large purchases, including homes and other real estate is a huge part of the U.S. and world economic recovery.
A Money Journal survey in April found that 40% of those surveyed feel it will take at least six more years for the U.S. economy to recover from the economic downturn. Before the financial crisis, an estimated 80% of U.S. households invested in stocks, bonds and other financial investments on Wall Street. That number has been cut substantially since the crisis, with millions of consumers losing trillions of dollars in assets during the downturn.
Financial experts in business, including stocks, bonds, real estate and banking provide detailed reports and financial forecasts for consumers to better protect themselves in the world of finance and save money at Money Journal. There are lots of ways to save money on all sorts of products and services provided through the website on everything from a home mortgage to finding the best cheap beer on a budget.
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