44% of Americans Believe Finances Will Improve Next Year, Survey Finds

Bankrate’s most recent Financial Outlook Survey found that 44 percent of Americans think their finances will improve in 2025, compared to 37 percent from the 2023 survey who said they believed their finances would improve in 2024. 14 percent of the share that believes their finances will get better next year say their finances will get significantly better.

Of the share who think their finances will improve in 2025, lower inflation was the top reason at 36 percent, followed by rising income from employment, social security, etc. (35 percent); having less debt (30 percent); better spending habits (25 percent); and the work done by elected officials (25 percent). However, of those who think their finances will get worse, the top two reasons were continued high inflation (44 percent) and work done by elected officials (30 percent).

“Post-election, our survey finds that some Americans see some elected officials either as a reason why their finances might not improve (or why they will), affirming a continuing political divide,” said Mark Hamrick, Bankrate Senior Economic Analyst. “No matter where someone stands along the political spectrum, the opportunity remains for all to identify financial goals and to act upon them.”

Bankrate noted that inflation has steadily trended toward the Federal Reserve’s goal of 2 percent after hitting a 41-year record high in 2022. In November, inflation came in at 2.7 percent, up slightly from October but in line with economists’ predictions.

89 percent of Americans said they have a financial goal next year, with the most popular goal being paying down debt at 21 percent. Other goals include saving more for emergencies (12 percent) and budgeting spending better (10 percent). 11 percent of Americans do not have a financial goal for 2025.

Of the share that has a financial goal for next year, 43 percent said it is an immediate priority and cited it as a New Year’s resolution. 35 percent said it is a medium-term goal they will address when they can better plan, and 13 percent cited it as a long term issue that they will address when they can.

“Inflation has faded, but it hasn’t gone away,” said Hamrick. “With interest rates still elevated, it is encouraging to see the top financial goal is to pay down debt. Average credit card interest rates top 20%, still close to a record high. Targeting high-cost debt can provide an immediate benefit.”