{"id":4709,"date":"2025-04-21T09:00:00","date_gmt":"2025-04-21T14:00:00","guid":{"rendered":"https:\/\/www.beyondfinance.com\/newsroom\/?p=4709"},"modified":"2025-04-21T10:01:58","modified_gmt":"2025-04-21T15:01:58","slug":"new-survey-reveals-americans-unprepared-for-current-economic-uncertainty","status":"publish","type":"post","link":"https:\/\/www.beyondfinance.com\/newsroom\/new-survey-reveals-americans-unprepared-for-current-economic-uncertainty\/","title":{"rendered":"New Survey Reveals Americans\u00a0Unprepared for Current Economic Uncertainty"},"content":{"rendered":"\n

Half of Americans Don\u2019t Trust Themselves Managing Finances;\n51% Plan to Step Up Financial Literacy and Practices\n<\/em><\/p><\/p>\n\n\n\n

April 21, 2025 \u2013 CHICAGO <\/strong>\u2014 Americans are determined to take control of their financial lives, yet most feel profoundly unprepared and only half trust themselves to get it right, according to a new survey from Beyond Finance<\/a> released today, one of the first of its kind. The study polled 2,000 U.S. adults, revealing that only 13% feel \u201cvery good\u201d about their current financial situation, despite overwhelming agreement that long-term financial well-being is more critical than ever. In fact, 84% say setting themselves up for financial success is more important now in times of economic uncertainty. The study is part of Beyond Finance\u2019s third annual Financial Practice Week<\/a>.\u00a0<\/p>\n\n\n\n

Economic Urgency Is Driving Action While Confidence Lags<\/strong><\/p>\n\n\n\n

Against a backdrop of rising costs and financial instability, people are prioritizing future security more than ever before. But that urgency hasn\u2019t yet translated into confidence. 51% said today\u2019s economic uncertainty has pushed them to improve their financial knowledge, with nearly 60% planning to increase their financial understanding this year. Yet only 50% say they have \u201ca lot\u201d of trust in themselves when it comes to managing their finances.<\/p>\n\n\n\n

Disillusionment With Institutions Is Fueling Shift<\/strong><\/p>\n\n\n\n

Over half of respondents said they feel the same or more disillusioned with financial institutions than they did a year ago. That distrust appears to be becoming a catalyst for personal empowerment.<\/p>\n\n\n\n

\u201cThere\u2019s a growing movement around financial self-empowerment,\u201d said Lou Antonelli, Chief Operating Officer of Beyond Finance. \u201cWe\u2019re seeing people move from avoidance to action. It\u2019s not just about fixing your finances \u2014 it\u2019s about feeling capable and in control.\u201d<\/p>\n\n\n\n

Women May Trust Themselves Less<\/strong><\/p>\n\n\n\n

Women are showing up in this financial moment, but they also report slightly lower levels of self-trust, hinting at a persistent confidence gap. 72% of women surveyed manage the bulk of the finances themselves \u2014 however over a third currently feel somewhat-to-very bad about their financial situation. Moreover, only 49% of women say they have \u201ca lot\u201d of trust in themselves to manage their finances, compared to 52% of men. Despite this, women show strong balance in decision-making \u2014 59% say they focus equally on short- and long-term outcomes, compared to 54% of men.  <\/p>\n\n\n\n

Generations Approach the Future Differently<\/strong><\/p>\n\n\n\n

The survey also reveals distinct generational patterns around optimism, financial planning, and perceived control, highlighting how life stage influences mindset. Gen Z stands out as the most optimistic: 59% strongly agree they\u2019re actively working to set themselves up for success. But they\u2019re also the most short-term focused: 27% say they prioritize \u201cwhat\u2019s best in the moment,\u201d more than twice the rate of baby boomers (10%). Meanwhile baby boomers and the Silent Generation are more methodical, with 64% of boomers saying they weigh both short- and long-term goals equally. Millennials and Gen X fall in between, with many voicing ambition but still grappling with self-trust and economic headwinds. <\/p>\n\n\n\n

These differences reflect a spectrum of attitudes shaped by experience, resources, and how much time each group feels they have to prepare for what\u2019s next.<\/p>\n\n\n\n

Bridging the Financial Trust Gap: Empowering Americans To Invest in Themselves<\/strong><\/p>\n\n\n\n

Even as Americans are largely managing their own finances \u2014 74% say they handle it themselves \u2014 emotional drivers like anxiety, lack of knowledge, and past missteps continue to erode financial confidence. Many of today\u2019s struggles can be traced back to foundational gaps. According to the survey, 20% of respondents received no financial education from their parents while 31%<\/strong> received none in school. Among baby boomers, 35% said their parents never taught them about money while only 20% of Gen Z said the same.  <\/p>\n\n\n\n

Despite these setbacks, Americans are actively working to build their financial confidence in practical, repeatable ways this year. Respondents say they\u2019re either currently or planning to: track their spending (69%), use budgeting apps (28%), regularly read financial news (28%), listen to financial podcasts (23%), and talk more openly with family to break the money taboo (22%).  <\/p>\n\n\n\n

\u201cWhen it comes to financial well-being, trust in yourself is the foundation,\u201d said Dr. Erika Rasure, Chief Financial Wellness Advisor at Beyond Finance. <\/strong>\u201cWe often think of money management as purely numbers and strategy \u2014 but in reality, it’s deeply emotional. Building self-trust allows people to move from fear or avoidance into confident, empowered decision-making. Investing in yourself means more than saving or budgeting \u2014 it means nurturing the emotional resilience and knowledge that lead to long-term, holistic financial health.\u201d<\/p>\n\n\n\n

Building this trust starts from within \u2014 and that\u2019s the focus of Beyond Finance\u2019s Financial Practice Week, which occurs during the third week of National Financial Literacy Month in April. It is an initiative designed to help people reconnect with their financial power by building personalized, emotionally grounded practices.<\/p>\n\n\n\n

Financial Practice Week encourages individuals to: <\/p>\n\n\n\n