Two reports out this week reveal the importance that an increasing proportion of Americans are putting on their finances
Two reports out this week reveal the importance that an increasing proportion of Americans are putting on their finances.
First, a report from Gallup which says that financially-stressed Americans who were spending and saving in roughly equal measures before the Great Recession, are now putting more value on saving.
In 2005-6, 50% of financially-stressed respondents said they enjoyed spending more, in 2012-14 that had fallen to 35% and is unchanged for 2015-17. Meanwhile, over the 2005-2017 period those who said they enjoyed saving more has increased from 46% to 63%.
Financially stressed does not necessarily mean ‘lowest income’ as the Gallup data shows that over the past 3 years, a third of those earning $75,000 or more worry about maintaining their standard of living with 10% saying they don’t have enough money to live comfortably.
A separate poll by Bankrate.com also reveals good news regarding American attitudes to their credit rating.
The survey shows that 42% would make dating choices based on a potential partner’s credit score. For 13% that would be a major impact, for 29% it would be minor.
"It's probably not a great idea to ask for someone's financial history on the first date," said Mike Cetera, credit card analyst at Bankrate.com. "However, it's better to know if a potential partner has a history of bad financial decisions before the relationship goes too far, especially if you plan on making large purchases together or sharing bank accounts."
Those in the 27-34 age group are most likely to consider a credit score, perhaps mindful of the potential to settle down and apply for a mortgage, while younger millennials are less likely to be concerned.
First, a report from Gallup which says that financially-stressed Americans who were spending and saving in roughly equal measures before the Great Recession, are now putting more value on saving.
In 2005-6, 50% of financially-stressed respondents said they enjoyed spending more, in 2012-14 that had fallen to 35% and is unchanged for 2015-17. Meanwhile, over the 2005-2017 period those who said they enjoyed saving more has increased from 46% to 63%.
Financially stressed does not necessarily mean ‘lowest income’ as the Gallup data shows that over the past 3 years, a third of those earning $75,000 or more worry about maintaining their standard of living with 10% saying they don’t have enough money to live comfortably.
A separate poll by Bankrate.com also reveals good news regarding American attitudes to their credit rating.
The survey shows that 42% would make dating choices based on a potential partner’s credit score. For 13% that would be a major impact, for 29% it would be minor.
"It's probably not a great idea to ask for someone's financial history on the first date," said Mike Cetera, credit card analyst at Bankrate.com. "However, it's better to know if a potential partner has a history of bad financial decisions before the relationship goes too far, especially if you plan on making large purchases together or sharing bank accounts."
Those in the 27-34 age group are most likely to consider a credit score, perhaps mindful of the potential to settle down and apply for a mortgage, while younger millennials are less likely to be concerned.
