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Logica's upcoming Future of Money Study reveals how Americans are adapting their financial habits in response to a divided economic outlook. As people navigate a complex landscape of challenges and opportunities, our study uncovers shifts in spending and saving—offering fresh insights and considerations for how to provide financial advice and support to Americans in today’s economy.
Nearly half (49%) of Americans believe the economy is worse than it was a year ago, prompting shifts like looking for additional sources of income (44%), changing where they shop and what they buy (44%) and delaying or canceling large purchases (37%) and vacations (35%), as well as using credit cards more (28%) and many other changes. On the other hand, nearly one in five (18%) of Americans feel the economy has improved compared to a year ago, leading to more confident spending like using debit cards more (31%), using credit cards more (27%) and using cash more (27%), as well as adjusting their portfolio (18%) and seeking professional financial advice (16%).
Interestingly, most Americans (85%) feel they are managing their money as well or better than others, reflecting a general sense of confidence. Those who feel particularly confident in their financial management are more likely to work with financial advisors and invest strategically. These findings underscore evolving money management trends and the importance of understanding the current money mindset in meeting consumer needs.
You can sign up now to get early notification of our upcoming Logica® Future of Money highlight report!
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