Americans feel more confident about their financial future than they did one year ago
Chicago, Illinois, December 12, 2023 — A new Ipsos poll conducted on behalf of BMO reveals that three quarters (74%; +6 pts vs. 2022) of Americans and statistically higher proportions compared to a year ago, feel optimistic about their financial future. Financial confidence has improved – more express confidence in their financial situation than did one year ago (71%; +3 pts). Additionally, more now see themselves as being better off today (44%; +6 pts) and fewer feel less secure, financially, than did one year ago (26%: -6 pts). While these results are promising, many financial challenges persist. Notably, almost half (46%) of Americans say they are adjusting their New Year’s money resolutions in response to the rising cost of living. It follows that many are now engaging in more thrifty, frugal spending – three in ten (31%) plan to minimize spending in 2024 and/or create financial goals or a budget to follow in 2024 (24%). Having a financial plan can help mitigate these financial challenges and yet more than two-thirds (68%) do not have a written financial plan. As many as two in five (40%) Americans admit they don’t make any financial New Year’s Resolutions. Even though many do not make any financial New Year’s Resolutions, most (74%) set financial goals with retirement savings most frequently cited as a financial objective (at 59%), followed by taking a vacation (45%), paying down debt (44%), making a major purchase (41%), saving for children’s expenses (28%), or buying a home (25%).
About the Study
These are the findings of an Ipsos survey conducted on behalf of the BMO. Fieldwork was conducted between September 11 and October 9, 2023. A total of n=2,502 Americans aged 18+ participated in the survey which was fielded via the Ipsos’ panel. Quotas and weighting were used to ensure the sample's composition reflects that of the American population according to census parameters. This survey has a credibility interval of +/- 2.4 per cent 19 times out of 20, of what the results would have been had all American adults 18+ been surveyed.
For more information on this release, please contact:
James Cottrill
Senior Account Manager, Ipsos Public Affairs
+1 416 324 2900
[email protected]
About Ipsos
Ipsos is one of the largest market research and polling companies globally, operating
in 90 markets and employing nearly 20,000 people.
Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 business solutions are based on primary data from our surveys, social media monitoring, and qualitative or observational techniques.
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Founded in France in 1975, Ipsos has been listed on the Euronext Paris since July 1, 1999. The company is part of the SBF 120, Mid-60 indices, STOXX Europe 600 and is eligible for the Deferred Settlement Service (SRD).
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