Are Americans feeling better these days about their finances?
On behalf of The Rollins Law Firm posted in Personal Bankruptcy on Wednesday, February 4, 2015.
Most people in Mississippi and across the rest of the country might reasonably think that the majority of their neighbors and acquaintances – co-workers, fellow gym members, people at their church, other parents they see at school and so forth – are doing reasonably well as far as their personal finances are concerned. Various empirical data indicate that the so-called Great Recession of recent years has largely passed and that economic activity has picked up nationally, so most people should be feeling fairly sanguine about their current situation and future prospects, right?
According to results culled in a survey regarding financial stress, most Americans are in fact suffering a great deal of angst every time they think about money matters.
And, reportedly, thoughts about money and how far it stretches are a near constant for millions of people battling to stay afloat every day.
That is at once interesting and ironical, given the many sources of hard evidence pointing to improving financial conditions across the nation. Unemployment numbers are down, and job placements are up. Gas prices have plummeted, and the foreclosure crisis of recent years seems to have largely passed.
So why the acute concerns?
Notwithstanding betterment for some, many Americans continue to harbor concerns over the economy in the wake of the country's recent recessionary times. They fear unexpected expenses (think medical bills, car breakdowns and credit card outlays for necessities brought about following job loss).
In fact, the American Psychological Association states that about 90 percent of people surveyed say that they are just as stressed out or even more concerned about money now than they were one year ago.
As stated in an article discussing the above-cited survey, that level of financial-related worry makes money concerns "the top source of stress for most Americans."