The 79 percent of NEFE respondents who promised to bolster their fiscal well-being in the new year is 10 percent higher than the respondents polled last year. But the new year promises to bring old challenges: 51 percent of respondents said saving money was their biggest cause of financial stress, while 46 percent cited debt as their greatest monetary headache.
The NEFE survey, which polled more than 2,000 adults, found 68 percent dealing with an unexpected financial setback this year, compared to 63 percent in last year’s survey. The main problems contributing to these setbacks were transportation issues (23 percent), housing repairs and maintenance (21 percent), and medical care for an injury or illness and falling behind on bill payments (both 17 percent).
“Over the past year, despite uncertainty and volatility surrounding the stock market, rising interest rates, as well as concern of an economic slowdown, we are seeing incredible determination from Americans who want to take control of their finances and improve their financial well-being in 2019,” said Billy Hensley, President and Chief Executive Officer of NEFE. “Each year there is a 60 percent probability that something will happen that causes a financial setback. Because of this there is persistent pressure to save, but many feel overwhelmed in doing so. We don’t want people to be discouraged.”