Survey Finds Financial Woes Increased 43% in 2022 — and 2023 Already Has Americans Down in the Dumps
New year, new you, new optimistic outlook about one’s personal finances, right? Not so much this year. According to a new survey commissioned by Slickdeals, 53% of Americans said 2023 will be the year they become financially stable — down from 66% heading into 2022.
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The survey also found that 58% found 2022 to be economically difficult for them — a sharp contrast to 2021, when just 15% reported financially tough times.
Additionally, when asked whether or not their 2023 New Year’s resolutions were going to include being smarter with money, only 63% said “yes,” — a major decrease compared to 76 % in 2021, and 74% in 2020. Furthermore, 11% or respondents said they were so frustrated with 2022 that they’re not even going to bother making resolutions at all for 2023.
A number of factors contributed to people’s gloomy economic outlook in 2022, including:
- Gas prices: 52% claimed this as a factor
- Paying more bills: 38% claimed this as a factor
- The ongoing pandemic: 32% claimed this as a factor
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However, the main reason for frustration and pessimism, according to the survey, was inflation, with 66% of Americans citing it as a significant setback to them reaching their financial goals in 2023. Fifty-nine percent of respondents said they have had to postpone making major purchases due to inflation. The biggest postponed purchases are cars (42%), clothing (38%), new phones (31%), renovation projects (28%) and new computers (24%).
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