Just 13% of Americans Feel Confident About Their Finances

Couple stressed over money (© JenkoAtaman – stock.adobe.com)

NEW YORK — Economic anxiety continues to grip most Americans, with new research showing that barely one in ten people feel truly secure about their money situation right now.

A recent survey asked 2,000 Americans how they feel about their current finances. The results? Only 13% said they feel “very good” while 28% reported feeling “somewhat good” about their financial standing.

Despite these worries, most people aren’t sitting idle. A striking 84% of respondents believe that building financial security has become more crucial than ever during these unpredictable economic times.

The economic climate has pushed many to action, with 51% of those surveyed saying uncertainty has motivated them to boost their financial knowledge. Meanwhile, 59% plan to learn more about managing money in the near future.

For those seeking to improve their financial literacy, the approaches vary. Most commonly, people plan to track what they spend (69%), while equal numbers (28%) intend to follow financial news and use budgeting apps. Some will turn to financial podcasts (23%), and others plan to break money taboos by discussing finances more openly with family members (22%).

The findings, conducted by Talker Research and commissioned by Beyond Finance ahead of Financial Practice Week, reveal a confidence problem at the heart of Americans’ money management. While 74% of respondents handle most of their own finances, only half strongly trust their own financial decisions.

This lack of confidence likely stems from gaps in early financial education. About 20% of Americans received no money guidance from their parents whatsoever. This knowledge gap was especially pronounced among older Americans – 35% of baby boomers reported receiving no financial education from their parents, compared to only 20% of Gen Z respondents.

Lou Antonelli, Chief Operating Officer of Beyond Finance, sees a positive shift happening: “There’s a growing movement around financial self-empowerment,” he said. “We’re seeing people move from avoidance to action. It’s not just about fixing your finances — it’s about feeling capable and in control.”

The push toward self-education may also reflect growing skepticism of traditional financial institutions. In the past year, 18% of respondents reported feeling more disillusioned with banks and similar organizations.

Dr. Erika Rasure, Chief Financial Wellness Advisor at Beyond Finance, emphasized the emotional aspects of money management: “When it comes to financial well-being, trust in yourself is the foundation,” she said. “We often think of money management as purely numbers and strategy — but in reality, it’s deeply emotional.

“Building self-trust allows people to move from fear or avoidance into confident, empowered decision-making. Investing in yourself means more than saving or budgeting — it means nurturing the emotional resilience and knowledge that lead to long-term, holistic financial health.”

Looking ahead, Americans are focusing on practical financial goals for 2025. Saving money tops the list (53%), followed by cutting or eliminating debt (32%). Other common goals include not worrying about bills anymore (27%), creating emergency savings (27%), and boosting credit scores (26%).

These findings suggest Americans are at a financial crossroads. While economic worry remains widespread, with only 13% feeling very confident about their finances, there’s a growing determination to take control through education and self-reliance.

The gap between financial anxiety and confidence remains wide, but the commitment to financial learning across generations points to potential improvement. As more people embrace educational resources and develop better money habits, we may see a substantial shift in how Americans relate to their finances.