NEFE: Americans are planning, but still anxious about money

NEARLY 70 PERCENT of American adults will set financial goals for themselves in 2018, according to a recent survey by the National Endowment for Financial Education, but 29 percent of respondents reported the quality of their financial life is worse than expected.
NEARLY 70 PERCENT of American adults will set financial goals for themselves in 2018, according to a recent survey by the National Endowment for Financial Education, but 29 percent of respondents reported the quality of their financial life is worse than expected.

PROVIDENCE – A new national survey shows nearly 70 percent of American adults will set financial goals for themselves in 2018.

The National Endowment for Financial Education, an independent financial education nonprofit, released its annual survey of consumer expectations this month.

United States adults continue to focus on financial health as much as their physical health, according to the survey, but money continues to cause a high level of anxiousness.

“We continue to see a lot of anxiety about money,” said Ted Beck, NEFE president and CEO.

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About half of respondents – or 53 percent – feel the quality of their financial life is about what they expected. About 18 percent say it’s better than expected, which is heavily outweighed by the 29 percent of people who reported their financial life worse than expected.

“Financial setbacks add to the distress,” Beck said.

The most common financial setback last year, according to the results, related to transportation issues at 23 percent, housing repair and maintenance at 20 percent and the inability to keep up with debt at 16 percent.

The top anticipated expenses in 2018 among U.S. adults will be paying off debt.

Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.

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