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Almost 4 of 10 Americans not happy with financial situation

Almost 4 of 10 Americans not happy with financial situation

38 percent not ‘financially fit’

Nearly four out of ten Americans say they are currently unhappy with their personal finance situation, according to a recent survey commissioned by TransUnion.

The survey – conducted by JZ Analytics, commissioned by TransUnion – found that 38 percent of Americans surveyed said that they are not currently “financially fit” and are also currently unhappy with their financial situation in general.

According to TransUnion, 43 percent of respondents also said that there was something financially they would like to work on.

“With today’s changing and unsettling economic conditions, it is easy for consumers to become worried and confused about how to manage their finances,” Heather Battison, TransUnion’s senior director responsible for consumer education, said in a statement.

A TransUnion report detailing the findings of the survey made use of current events to offer up a message that consumers should “strive for success in their personal ‘finance Olympics’” – obviously referencing the start of the 2012 Summer Olympics in London.

“Rather than get stressed out over their current financial fitness level, consumers should take the opportunity during The Olympic Games to make sure they have an understanding of the basics to help them go for the gold when it comes to financial health,” Battison said.

Tips that TransUnion on how consumers can increase their financial fitness level included:

  • Avoid late payments. Always pay bills on time.
  • Check your credit report. Scrutinize the information that is on your credit report.
  • Avoid excessive credit inquiries. Many credit inquiries over a short duration can be bad for credit health.

See also: Know the difference between hard pulls and soft pulls of your credit report


Posted in: Banking, Credit Cards, Loans


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