Survey Shows People Are Optimistic About 2017 Income Potential

As 2016 drew to a close, people felt mostly hopeful about their moneymaking ability in the coming year, according to a study by Allianz Life Insurance Company.

Allianz asked survey respondents a number of questions, including whether they felt the outcome of the US Presidential election was going to affect them financially, how stressed they felt compared with how they felt last year, what bad habits they indulged over the past year, and how likely they were to seek professional financial advice in 2017.

Looking to the future

Although many Americans were surprised by the outcome of the presidential election, the upset didn’t seem to affect their feelings about how their personal economic situation will fare in 2017. Thirty-two percent of those surveyed said they felt optimistic about their earning potential in the near future. Fifty-five percent felt either positive or neutral about their financial outlook, and 23% said they don’t believe the election results will impact their finances one way or another.

People do seem to be feeling the stress of the election, which most people named as their top worry in 2016, both pre and post election. Forty-two percent of folks said they were more stressed out in 2016 than they were in 2015.

Bad habits die hard

When it came to bad financial habits, spending too much money was number one on the list – just as it was in 2015. Thirty percent of respondents admitted to overspending this year, putting them in financial hot water.

Saving money, or rather not saving it, was another hotspot for regret. Twenty-three percent of folks said they were ashamed over how little money they’d saved, and another 23% said they didn’t save any money at all over the course of the entire year.

Some people planned to seek help changing their financial ways in 2017 – 29% of respondents said they’d likely contact a finance professional for advice next year.

The Allianz Life Insurance Company of North America conducted this study during November 2016, surveying 1,110 people before the election on November 8, and 1,005 people after the election. The survey was done online and included responses from a wide range of consumers over the age of 18.