Table of Contents
Executive Summary
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- Overview
- When it comes to financial success, everything is important
- Gender affects goal-setting
- Financial situation dictates willingness to sacrifice
State of the Economy
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- Economic overview
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- Figure 1: Key economic indicators, November 2018
- Consumer confidence
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- Figure 2: Consumer confidence, January 2008-November 2018
- Un- and underemployment
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- Figure 3: Un- and underemployment, January 2008-October 2018
- Disposable personal income
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- Figure 4: Disposable personal income change from previous period, January 2008-October 2018
- Personal Saving Rate
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- Figure 5: Personal saving rate, January 2008-October 2018
- Homeownership rate
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- Figure 6: Homeownership rate for the United States, January 2008-Q3 2018
Current Financial Situation
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- Majority of US consumers consider their finances to be healthy/OK
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- Figure 7: Current financial situation, November 2018
- Consumers are slightly more optimistic at year’s end
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- Figure 8: Current financial situation, Q1 2017-Q4 2018
Definition of Financial Success
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- Consumers have multiple financial priorities
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- Figure 9: Definition of financial success, November 2018
- Those with healthy finances concentrate on bill payment, savings
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- Figure 10: Definition of financial success, by financial outlook, November 2018
- Women more likely to have multidimensional financial goals
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- Figure 11: Definition of financial success, by gender, November 2018
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- Figure 12: Definition of financial success, by gender and age, November 2018
- Men significantly more likely to ask for a raise to meet financial goals
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- Figure 13: Willingness to ask for a raise to meet financial goals, November 2018
Obstacles to Financial Goals
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- Salary is considered the main obstacle to meeting financial goals
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- Figure 14: Obstacles to financial success, salary vs expenses, November 2018
- Consumers with healthy finances not as troubled by obstacles
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- Figure 15: Obstacles to financial success, by financial outlook, November 2018
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- Figure 16: PayPal Mastercard direct mail piece, December 2018
- Age more likely to dictate opinion on financial obstacles
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- Figure 17: Top obstacles to financial success, by age, November 2018
Reaching Financial Goals
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- Consumers more willing to cut back than change spending habits
- Dining out, daily treats are first sacrifices in order to meet financial goals
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- Figure 18: Cutting back to meet financial goals, November 2018
- Consumers with tighter budgets more focused on cost savings
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- Figure 19: Change in spending to meet financial goals, by financial outlook, November 2018
- Women more willing than men to cut back
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- Figure 20: Willingness to cut back, by age and gender, November 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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