Americans feel confident that they can pay their monthly bills, even if they express doubt about their ability to plan and save for their financial futures.
That’s according to new results from an Allstate/National Journal Heartland Monitor Poll, which recently gauged American’s attitudes toward their personal finances five years after the global financial recession.
Ninety percent of those surveyed said they felt fine about covering day-to-day costs, an increase of 8 percent since April 2013. But Americans’ confidence level decreased when it came to their ability to pay medical bills for themselves and their family (just 71 percent said that this seemed “realistic”). Sixty-eight percent had faith in their ability to make mortgage payments, or pay off their debts, while just 58 percent felt like they were investing their money for their future.
The ability to make financial plans splits starkly among those with college degrees and those without them. Four in 10 Americans, without college educations, said they rarely had enough money left over each month after paying their bills. Only 19 percent of college grads found themselves in such a paycheck-to-paycheck existence.
To increase their ability to save money in the long run, the majority of Americans said that it was worth making sacrifices in their daily spending habits. They would make this trade-off, respondents said, even if it meant a lower quality of life.
Few Americans believed that any financial windfall would arrive in the form of an inheritance. Seventy-four percent of Americans never received this type of money from family members; 68 percent did not expect to, either.
Overall, the majority of Americans (53 percent) still believe the U.S. remains in the throes of a recession, a few years after the downturn technically ended. It’s a commentary on the fragile financial state that many Americans still feel like they find themselves in, especially when it comes to saving for retirement, college, or a rainy day fund.
What We're Following See More »
Even though they dislike both of them, the American people want to know that its presidential candidates are healthy. "Nearly two-thirds of registered voters think presidential candidates should release details about their medical histories, according to a new Morning Consult poll." In the new poll, 64 percent of Americans say the candidates should release their medical reports, up nine percent from May.
In a speech Friday at the Federal Reserve's Jackson Hole summit, Fed chair Janet Yellen sounded an optimistic tone about the state of the American economy, before implying that a hike in interest rates is on the horizon. The Fed "continues to anticipate that gradual increases in the federal funds rate will be appropriate over time to achieve and sustain employment and inflation near our statutory objectives," Yellen said in her address.
While politicians argue over whether or not to be worried about potential voter fraud come November, a study tells us it is not a legitimate concern. "A News21 analysis four years ago of 2,068 alleged election-fraud cases in 50 states found that while some fraud had occurred since 2000, the rate was infinitesimal compared with the 146 million registered voters in that 12-year span. The analysis found only 10 cases of voter impersonation, the only kind of fraud that could be prevented by voter ID at the polls."
The Democratic National Committee's "influx of money" in July "owes in part to an unprecedented workaround of political spending limits that lets the party tap into millions of dollars more" from Hillary Clinton’s biggest donors. "At least $7.3 million of the DNC’s July total originated with payments from hundreds of major donors who had already contributed the maximum $33,400 to the national committee." Those payments were "first bundled by the Hillary Victory Fund and then transferred to the state Democratic parties, which effectively stripped the donors’ names and sent the money to the DNC as a lump sum."
President Obama this morning "created the largest protected area on the planet Friday, by expanding a national marine monument off the coast of his native Hawaii to encompass 582,578 square miles of land and sea."