Most Americans Aren't Happy With Their Finances

Americans aren’t too happy with their finances these days, as new research reveals many would give them a failing grade. According to a new survey from Empower, people rate their happiness with their overall personal finances just a 4.97 out of 10. That leaves a lot of room for improvement, but 91% are ready for it, as they’re making financial health and happiness a priority.

The survey of 22-hundred U.S. adults also finds:

• When it comes to satisfaction with retirement savings, Americans rate theirs a 4.54, on average.
• They score the likelihood of retiring at their goal age a 4.93 out of 10.
• For financial success, the score is even lower at 4.46, as 55% feel success is further away now than it was a year ago.
• Contentment with salary comes in at 4.65, while people give their ability to afford a home a 4.83.
• Over two-thirds (69%) say the economy is too uncertain to make big money moves, but some are planning to make important decisions this year, including figuring out how to make more money (43%) and how to be financially happy (37%).
• Three-quarters (76%) admit they need more savings to be prepared for the unexpected and 31% plan to start an emergency savings fund.
• The majority of respondents say not having to depend on anyone else for money is a big part of their happiness (84%), as is being able to financially take care of their loved ones (81%).
• While people may not be feeling great about their finances right now, 78% want to have a financial plan to guide their decisions, which they say makes them happier and less stressed.
• For three-quarters (74%), having more money would solve most of their problems, and it wouldn’t take much. Getting just $5-thousand would increase financial happiness for at least six months for 71% of those polled.