Fidelity: More Americans Getting Financial Houses in Order
When it comes to finances, more Americans are feeling better about the future, according to Fidelity’s latest resolutions study.
“We’ve seen a large increase in the number of people who are saying they are in much better shape now than they were just a year ago,” said Fidelity Sr. VP of Retirement Ken Hevert during an interview on the FOX Business Network’s Mornings with Maria.
The survey revealed 70% of American’s predict their finances will be better in 2017.
“We are seeing more Americans resolving to get their financial houses in order,” he said. “The state of the economy, the stock market, the jobs… all factor into this.”
However, an increased focus on paying off debt, spending less and tackling savings goals is also boosting confidence according to Hevert.
“Simply setting a goal and doing something about it makes people feel good about their situation,” he said.
Fidelity’s survey also revealed that the top three goals for 2017 were saving more, paying off debt and spending less.
Hevert also noted unexpected expenses topped the list of main concerns.
“The most important tip is to really understand what you’re spending your money on,” he said.