But there is still a level of hope among many...
The lack of opportunities due to coronavirus inevitably correlates with a lack of optimism
As I wrestle with my calendar to fit in home-schooling needs, work commitments, volunteer work and household management, I find myself sighing heavily as I wonder how America is feeling about our future.
Our recent survey among Americans shows that I am not alone. Less than one third of Americans (30%) say they are optimistic about the country’s future in 2021. Positivity lacks even further among the younger demographic (18-24 years of age) at a low of 13%. This group’s expectations of pursuing a dream career after schooling has diminished, the lack of opportunities due to coronavirus inevitably correlates with a lack of optimism. And unsurprisingly, when it comes to job security, these younger Americans (18-24) are the least optimistic (12%) compared to those aged 35-44 who are most optimistic at 33%.
Most Americans are worried about their personal finance situation, with only 22% saying they are optimistic about their personal financial health. We saw 27% of Americans admitting they are getting further into debt during the pandemic and almost half (49%) are concerned with paying their bills and loans. Paying bills for utilities, credit cards, and mobile phones are the top concerns among Americans.
On top of that, over half (56%) of Americans are taking less risks with their money despite a booming real estate market. This suggests that Americans are investing in areas they feel secure in like the family home and not in uncontrollable areas like the stock or housing market.
However, Americans are making plans for future investments as 46% say they are managing to save more by staying at home. Those who have been lucky enough to remain financially stable during this period may be the saving grace of the economy as it begins to reopen – bringing business to cafes, restaurants and entertainment venues that might otherwise have not survived.
Speaking of the economy, Americans are feeling less than optimistic. Our survey showed that just one out of five (22%) Americans feel positive about the economy.
The coronavirus pandemic has impacted everyone across the globe and although America has seen over 200,000 deaths due to COVID-19, there is still a level of hope among the population. In fact, one in three 35-44-year olds believe that the country will get back on its feet quickly.
Personally, I’m going to choose to be one of the optimistic ones, because optimism will fuel action and action is exactly what we need right now.
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