Everyone has at least one friend who’s always annoying the group with that “positive vibes only” talk. Someone get this guy a nice tall glass of reality! 👺👊
We’ve had one heckuva year and our wallets certainly all felt the burn. 🔥 However, according to new data, it looks like Americans are keeping those paycheck spirits bright. 🤩
Here’s Five Fast Facts on how Americans are feeling about their finances:
- 🌅 Brighter Days? - According to new data from the NY Federal Reserve, Americans are feeling more hopeful. In November, the number of households expecting their financial situation to be better a year from now shot up to 37.6%. That’s the highest it’s been since February 2020 and before the pandemic blew through.
- 🏃 Movin’ the Needle - Studies also show Americans making good progress on big financial goals in recent months. Close to half of Americans (47%) say they’ve paid off debt, 39% said they started an emergency fund, and 32% report saving for retirement.
- 🥰 All The Feels - In a separate survey, roughly 44% of Americans believe their personal financial situation will get better in 2025. Out of that number, 14% expect it will get significantly better. Around 60% of Americans feel confident about reaching their financial goals.
- 💸 Paycheck Cha-Ching - Overall, a lot of Americans have jobs and are taking home bigger paychecks. According to the BLS, average hourly earnings are up 1.3% from last year. The unemployment rate is also at a low (4.2%).
- 🍞 Let’s Get This Bread - One thing that’s still giving us major depression? Grocery prices. In November, food costs rose another 0.4%, and 2.4% year over year. A silver lining? Cereal and bakery product prices fell 1.1% in November, the biggest monthly decline since 1989.
🔥Bottom line: We don’t know about you, but we’re hoping 2025 throws us a little bit of luck and a lot of cash money! Inflation’s been a big pain in the groin, but have you heard about credit card processing fees? Hikes in those bad boys may hurt your wallet even more. Read all about it here!
How are you feeling about your finances heading into the new year?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
