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US consumers confident in personal finances, economy

Tuesday, September 18, 2012

The U.S. economy continues to show glimpses of improvement as a new survey from Chase reveals that consumers are more confident about their personal finances as well as the economy as a whole.

The yearly Chase Pulse of the Consumer Survey revealed that 64 percent of American respondents said they believe the economy is either stable and at the bottom or has already bottomed out and is on the rise. This number, more than half, is significantly higher than the 33 percent who said they felt this way this time last year.

The purpose of the 2012 Chase Pulse of the Consumer Survey was to take a close look at the financial habits of Americans as well as their attitudes regarding the economy and how their personal finances can help them advance their careers and lives.

"We're encouraged that consumers think the economy and their personal finances are on the upswing, but there is still work to be done," said Eileen Serra, chief executive officer of Chase Card Services. "Consumers continue to need the correct financial tools and services to better manage their everyday expenses - that is a critical first step to gaining full control over their financial future."

Budgeting and planning for the future
Americans have no shortage of options when it comes to organizing their finances and diversifying their portfolios. Technology can be a useful tool for creating a budget and sticking to it.

"All signs point to mobile payments and online banking increasing at a rapid pace over the next few years," Serra added. "Chase continues to make a significant investment in mobile to ensure our customers have secure and seamless on-the-go technology to manage their finances."

Another contributing factor to the improving economy is the housing market. The National Association of Home Builders recently reported that builder confidence is gaining momentum in September as it has reached 40, representing the fifth straight month of increases.

“This fifth consecutive month of improvement in builder confidence provides further assurance that the housing market is moving in a positive direction, but there’s still a long way to go on the road to recovery and several obstacles are slowing our progress,” said NAHB Chairman Barry Rutenberg.

Investors can take advantage of discount brokers for all their investment activities.


 



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