Most Americans Moderately Upbeat About Family Finances in 2007

Source Organization: Pew Research Center

01/04/2007 - Most Americans are moderately upbeat about their family's financial prospects in the coming year, with 57% expecting some improvement in their financial situation and another 10% expecting a lot of improvement, according to this Pew Research Center survey. These findings are in line with Pew surveys taken throughout this decade that have shown that most members of the public expect to see at least some improvements in their financial situation in the coming year. At the same time, however, the survey also finds wide variances in the way Americans assess their financial situation right now.

About four-in-ten (38%) adults in this country say they are living comfortably; another three-in-ten (28%) say they have enough money to meet expenses with a little left over for extras; and about one-in-three (32%) say either that they are just meeting basic living expenses or that they don't have even enough for the basics.

A similarly stark division emerges when employed Americans are asked whether they earn enough money to lead the life they want. Just under half (46%) say they do, while 53% say they don't. Among the group that says they don't earn enough now, most expect to earn enough in the future to lead the life they want. Just 18% of all employed respondents in the survey say both that they don't make enough now and that they don't expect ever to make enough to have the life they want.

These findings are from this Pew Research Center survey on personal finances conducted by telephone from October 18 through November 9, 2006 among a randomly - selected nationally - representative sample of 2,000 adults.

Read the full report Most Americans Moderately Upbeat About Family Finances in 2007 on the Pew Research Center Web site. 

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