7/7: Family Finances: Steady as They Go for Majority

July 7, 2011 by  
Filed under Featured, Money, Money Vault, State of the Economy

Overall, 52% of Americans think their personal family finances will remain the same in the coming year.  28% say they will get better while one in five — 20% — believe they will get worse.

dollar house and calculator

©istockphoto.com/alexsl

Click Here for Complete July 7, 2011 USA McClatchy-Marist Poll Release and Tables

When McClatchy-Marist last reported this question in April, nearly half — 48% — said their financial picture would remain about the same, 27% thought it would improve, and one in four — 25% — reported it would get worse.

“Through all the ups and downs of the economy, Americans’ expectations about their personal finances have remained essentially unchanged,” says Dr. Lee M. Miringoff, Director of The Marist College Institute for Public Opinion.  “People are slightly more positive than negative about their future family income, but most tell us things are likely to remain the same.”

Table: Your Personal Finances – Better, Worse, or the Same?

Table: Your Personal Finances – Better, Worse, or the Same? (Over Time)

Trend graph: personal finances.

Click on the graph to enlarge the image.

 

There’s No Place Like Home…Nearly Eight in Ten Americans Plan to Stay Local, But a Notable Proportion Call Area Unaffordable

When it comes to their future plans, 78% of Americans say they do not plan to move out of state in the next five years.  However, nearly one in five American adults — 17% — report they will move away, and 5% are unsure.

There are age differences on this question.  The youngest members of the population are the least likely to stay put.  While 56% of 18 to 29 year olds report they will remain where they currently live, 36% say they will bid it farewell.  Among residents 30 to 44 years old, 82% will stay while 13% plan to go.  Similar proportions of those 45 to 59 share these views.  Here, 80% of these residents think they will not move to another state while 16% will.  Americans who are 60 and older are the most likely to stay local.  89% say they will not pack up and move out of state, while only 7% report they will.

Among American adults who do plan to move out of state, the leading reason they cite is jobs.  17% report this to be the case.  13%, however, say the cost of living is their motivating factor while the desire to move near family — 12% — rounds out the top three reasons.

When it comes to the cost of living in the place where they live, 62% of American adults view their local area as affordable.  A notable 39% say it is not.  There are age differences on this question.  Younger Americans are the most likely to consider their local region to be affordable.  68% of these residents have this view.  Looking at older Americans, 59% of those age 30 to 44, 58% between 45 and 59 years old, and 62% of those 60 and older agree.

Table: Plan to Move Out of State

Table: Reasons Behind Plans to Move Out of State

Table: Cost of Living

McClatchy-Marist Poll Methodology

Comments

7 Responses to “7/7: Family Finances: Steady as They Go for Majority”

  1. Will You Be Better Off Next Year? New Poll Says Most Don’t Think So | Tucson AZ News and Weather on July 8th, 2011 8:11 am

    [...] a new Marist Poll indicates 52% of Americans think their personal financial [...]

  2. border patrol on July 8th, 2011 6:33 pm

    I believe the result of this poll shows more about the general optimism and pessimism of the American family, more than than it shows how the economy affects their mindset. They have pretty much the same outlook no matter what the economic climate is.

  3. Dave Griffiths, Best Mortgage on July 9th, 2011 7:31 pm

    In the UK the biggest reason for people moving out of their area (It’s not big enough to have states!) is either work or family.

    Work is probably top of the list now as the economic downturn has meant an awful lot of people have lost their jobs.

    If the only job you can find is in a different part of the country then so be it.

    Also quite a few firms are re-locating out of London as the Business Rates and rents are much lower.

    As the UK mortgage market (I’m in the mortgage business) is quite slow currently, people who have to move for their job often have to rent out the property they own as it’s difficult to find buyers and rent in the new area.

  4. Martin Wright on July 9th, 2011 9:31 pm

    62% view their local area as affordable, yet 39% say it is not! Now, unless mathematics has changed since my school days, I would be worried about the one schizophrenic among those polled! Just a thought.

  5. Will You Be Better Off Next Year? New Poll Says Most Don’t Think So | Stock Market Broadcast - Latest Investment News on July 28th, 2011 7:50 pm

    [...] skill, and it appears to play a role in how well we weather economic downturns.Specifically, a new Marist Poll indicates 52% of Americans think their personal financial [...]

  6. Will You Be Better Off Next Year? New Poll Says Most Don’t Think So | Stock Market News Broadcasts - Breaking Stock Market News on September 16th, 2011 9:25 pm

    [...] skill, and it appears to play a role in how well we weather economic downturns.Specifically, a new Marist Poll indicates 52% of Americans think their personal financial [...]

  7. Will You Be Better Off Next Year? New Poll Says Most Don’t Think So | G7Finance.com - Finance News & Personal Finance Resources on October 7th, 2011 1:19 am

    [...] a new Marist Poll indicates 52% of Americans think their personal financial situation will stay they same in the [...]

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!