Most Americans Feel Their Finances Have Not Improved Since 2016 Election

Sixty-two percent of Americans report that their financial situation has not improved in the past two years, according to a new report by Bankrate.com. Of those not seeing financial improvement, nearly 1 in 3 blames President Trump and/or Republicans in Congress for the stalled or declining state of their personal finances.

Those seeing the least positive gain are Americans living in the lowest income households. Of Americans earning less than $30k/year, 78% report that their financial situation has not improved and 27% say their financial situation is in fact worse than it was two years ago. Meanwhile, Americans earning $75k or more per year are seeing a more positive trend; 54% of the highest earners are feeling better about their financial situation including 26% who say their finances are “much better” than they were two years ago.

“It’s a fact that the broader U.S. economy has continued to improve compared to two years ago just before Donald Trump was elected president, however, the average American tells us they’re not feeling the improvement in their own wallet”, said Mark Hamrick, senior economic analyst for Bankrate.com. “Despite the political and economic divides in our country, Americans should further focus on their personal financial goals, including saving for retirement, saving for emergencies and paying down debt.”