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Consumers and the Economic Outlook Q1: Defining Financial Success - US - January 2019

"The US economy continues its slow upward trajectory, even as discussion of tariffs and trade discussions cause the stock market to fluctuate a great deal. US unemployment – already at extremely low levels – decreased further in October of 2018, while labor force participation remained steady. Despite a slight dip, consumer confidence remains quite high. Consumers who consider their finances to be healthy continue to have faith in the economy, thereby potentially increasing their spending."

- Jennifer White Boehm, Associate Director - Financial Services

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Table of contents

  1. Executive Summary

    • Overview
      • When it comes to financial success, everything is important
        • Gender affects goal-setting
          • Financial situation dictates willingness to sacrifice
          • State of the Economy

            • Economic overview
              • Figure 1: Key economic indicators, November 2018
            • Consumer confidence
              • Figure 2: Consumer confidence, January 2008-November 2018
            • Un- and underemployment
              • Figure 3: Un- and underemployment, January 2008-October 2018
            • Disposable personal income
              • Figure 4: Disposable personal income change from previous period, January 2008-October 2018
            • Personal Saving Rate
              • Figure 5: Personal saving rate, January 2008-October 2018
            • Homeownership rate
              • Figure 6: Homeownership rate for the United States, January 2008-Q3 2018
          • Current Financial Situation

            • Majority of US consumers consider their finances to be healthy/OK
              • Figure 7: Current financial situation, November 2018
            • Consumers are slightly more optimistic at year’s end
              • Figure 8: Current financial situation, Q1 2017-Q4 2018
          • Definition of Financial Success

            • Consumers have multiple financial priorities
              • Figure 9: Definition of financial success, November 2018
            • Those with healthy finances concentrate on bill payment, savings
              • Figure 10: Definition of financial success, by financial outlook, November 2018
            • Women more likely to have multidimensional financial goals
              • Figure 11: Definition of financial success, by gender, November 2018
              • Figure 12: Definition of financial success, by gender and age, November 2018
            • Men significantly more likely to ask for a raise to meet financial goals
              • Figure 13: Willingness to ask for a raise to meet financial goals, November 2018
          • Obstacles to Financial Goals

            • Salary is considered the main obstacle to meeting financial goals
              • Figure 14: Obstacles to financial success, salary vs expenses, November 2018
            • Consumers with healthy finances not as troubled by obstacles
              • Figure 15: Obstacles to financial success, by financial outlook, November 2018
              • Figure 16: PayPal Mastercard direct mail piece, December 2018
            • Age more likely to dictate opinion on financial obstacles
              • Figure 17: Top obstacles to financial success, by age, November 2018
          • Reaching Financial Goals

            • Consumers more willing to cut back than change spending habits
              • Dining out, daily treats are first sacrifices in order to meet financial goals
                • Figure 18: Cutting back to meet financial goals, November 2018
              • Consumers with tighter budgets more focused on cost savings
                • Figure 19: Change in spending to meet financial goals, by financial outlook, November 2018
              • Women more willing than men to cut back
                • Figure 20: Willingness to cut back, by age and gender, November 2018
            • Appendix – Data Sources and Abbreviations

              • Data sources
                • Consumer survey data
                  • Direct marketing creative
                    • Abbreviations and terms
                      • Abbreviations

                      Consumers and the Economic Outlook Q1: Defining Financial Success - US - January 2019

                      US $2,500.00 (Excl.Tax)