The economy is booming. But are Americans’ finances healthier because of it? – USA Today

  • July 2, 2019
  • By: Greenpath Financial Wellness

Featuring Dawn Hudson, GreenPath Financial Expert

This is the first story in a series about Americans’ financial health based on a survey provided by the FINRA Investor Education Foundation, a nonprofit dedicated to financial education and empowerment.

If you had to grade the U.S. economy today, it would probably get straight As.

The country is a month short of the longest economic expansion ever. Unemployment is at 50-year lows. Stocks notched the longest bull market last year and are again nearing fresh highs. And U.S. home values hit a record high in the first quarter.

But a survey of Americans finds their individual financial security is less clear than those collective high points suggest.

In many areas, fortunes have greatly improved compared with years past. But Americans remain stressed about money, and only a minority are satisfied with their financial position, according to the 2018 Financial Capability Study from FINRA Investor Education Foundation, a nonprofit dedicated to financial education and empowerment.

USA TODAY was given an exclusive look at the survey on financial capability, which considers people’s ability to make ends meet, plan ahead, manage financial products and understand financial concepts. The results will be released later Thursday.

“I give our nation’s financial capability a solid C, leaning toward a C-minus,” says Gerri Walsh, president of the FINRA Foundation. “While some Americans feel better about their finances now compared with 10 years ago, too many face obstacles that will likely keep us as a nation from acing financial capability any time soon.”

Conducted every three years since its 2009 inception, the study surveyed more than 27,000 respondents nationwide online, measuring key indicators of financial capability.

Continue here to read the entire article at USA Today.


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