Survey suggests we're still optimistic about economic recovery

Geoff Williams
Updated

I get a lot of surveys sent to me. Some of them are actually interesting.

Digital Insight just released one. It's a company that provides banking services to mid-market banks and credit unions, and is owned by Intuit, the company that makes Quicken and TurboTax and other financial and software products.

The report, called the Digital Insight Second Annual Online Financial Management Survey, (or DISAOFMS? Naw, forget it...) surveyed 1,000 adults and 500 small business owners across the nation. Among the most interesting findings:

  • More men than women responded that they're "very likely" to leave their current financial institution for one that offers online tools to help them improve their overall financial well-being.

  • In order of how we worry about money, the concerns are: living within our means and paying bills (42%), saving for a rainy day (only 15%), saving for retirement (14%) and getting out of credit card debt (13%).

  • Most of us are optimistic that our financial situation will improve within the next 12 to 24 months.

Now, regarding that last point, maybe it's my "glass is half empty" side coming out, but I don't get as excited about this as Digital Insight. Here's a breakdown of the numbers:

  • 16% strongly agree that things will turn around

  • 36% agree

  • 38% feel neutral

  • 8% disagree

  • 2% strongly disagree

A time range of up to two years is a long time, so it's not shocking to see that more than half the people surveyed think things should improve by then.

More sobering is to note the more than one-third of respondents taking a wait-and-see attitude. Still, with just over 10% viewing the economy as dismal, I must agree with Digital Insight's position that a lack of negativity is a positive in the end.

Advertisement