July 7, 2011
7/7: Family Finances: Steady as They Go for Majority
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.
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.”
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.