Mon 09|06|10

Personal confidence

Submitted by The City Wire staff on Thu, 02/04/2010 - 9:31am.

A majority of American consumers believe their personal finances are improving, but they are less optimistic about the broader economy, according to a survey by Chase Card Services.

The 2010 Personal Finance Confidence Survey polled 1,000 American consumers about personal finances and the economy in the new year.

The survey showed that 57% of respondents believe they have turned the corner on their own finances, while only 39% believe the U.S. economy is improving.

“Consumers tell us they’re looking ahead with optimism about their own finances and have learned important lessons from the challenging year we’ve all been through,” Stephanie Jacobson, with Chase Card Services, said in a statement. “We know that while most trust their own judgment, they also recognize the need for better ways to help them achieve their goals.”

SURVEY FINDINGS
• 72%  of respondents trust themselves most when it comes to managing their personal finances.

• 57% believe their personal finances have turned the corner and are getting better.

• 10% believe their personal finances will get worse.

• 52% say they do not feel in complete control of their finances.

• 68% say they would benefit from better ways to manage their personal finances.

• 54% of respondents believe the economy is not improving, including 35% who believe the economy will get worse.

• 39% believe the economy has turned the corner and is getting better.

• While the New Year’s resolution to better manage personal finances (26%) was second only to health pledges, 10% of respondents admitted to breaking their financial resolutions within the first 10 days of 2010.