Table of Contents
Executive Summary
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- Economic overview
- In focus: iGeneration
State of the Economy
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- Economic indicators remain strong moving into Q2 2018
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- Figure 1: Key economic indicators, January 2018
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- Figure 2: Consumer sentiment index, January 2003-December 2017
- Figure 3: Unemployment and underemployment, January 2007-January 2018
- Personal finance market growth predicted to outpace economy at large
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- Figure 4: Best- and worst-case forecast value of personal finance, at current prices, 2012-22
Current Financial Situation
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- Roughly 40% of consumers consider their financial situation “Healthy”
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- Figure 5: Opinion on current financial situation, February 2018
- Trended data shows slight regression to the mean
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- Figure 6: Opinion on current financial situation, Q1 2017-Q1 2018
- iGen financial situation most likely to be rated “OK”
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- Figure 7: Opinion on current financial situation, by generation, February 2018
Changes in Financial Wellbeing
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- Most consumers expect their financial situation to improve
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- Figure 8: Change in financial situation over the next year, February 2018
- A sense of future improvement has been the trend
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- Figure 9: Change in financial situation over the next year, Q1 2017-Q1 2018
- iGen consumers are the most optimistic about the coming year
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- Figure 10: Change in financial situation over the next year, by generation, February 2018
- The future looks brighter in the city
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- Figure 11: Change in financial situation over the next year, by area, February 2018
Improving Finances
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- Saving money has the biggest impact on improving finances, yet follow-through lags
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- Figure 12: Top most important factors in improving current financial situation, February 2018
- Figure 13: Factors driving economic situation improvements, Q1 2017-Q2 2018
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- Figure 14: Personal savings rate percentage, monthly, seasonally adjusted annual rate, January 1980-January 2018
- Millennials and iGen consumers see the value in hard work
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- Figure 15: Important factors in improving current financial situation, by generation, February 2018
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- Figure 16: Top factors for success, adult iGens, March 2017
- iGen consumers see more ways to improve themselves
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- Figure 17: Important factors in improving current financial situation, by generation, February 2018
- Millennials and iGen consumers expect help reaching their goals
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- Figure 18: Attitudes toward banks and banking, help reaching financial goals, by generation, November 2017
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- Figure 19: Chase, email campaign, Feb. 27, 2018
Spending Plans
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- Consumers plan to travel, spend money on home
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- Figure 20: Past and future spending plans, February 2018
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- Figure 21: How money is spent, Q1 2017-Q1 2018
- iGen consumers plan to save more than older generations
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- Figure 22: Past and future spending plans, February 2018
- Younger consumers eye big-ticket electronic purchases
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- Figure 23: Past and future spending plans, February 2018
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
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