Financial Finesse’s latest report, which surveys the callers to their financial helpline, found that
For the first time since before the Great Recession, Americans are finding their financial situations are not getting worse. Debt calls have leveled out at 39% of total calls, and employees’ overall financial wellness has finally stopped declining.
This is great news as we feel people are realizing they need to take control of their finances which ultimately means getting a basic understanding of financial knowledge.
The report also showed that calls about budgeting and savings nearly equaled debt calls and that calls dealing with short-term goals (e.g. paying bills) declined while calls regarding long-term goals (e.g. savings) increased. Thought the gains were slight, we hope this shows a trend that people are becoming more proactive about keeping their personal finances in check. I think the next quarterly report will tell us whether or not this is just an temporary hiccup or a paradigm shift.
Read the full report. [PDF document]
