* According to
In fact, nearly one third (30%) of survey respondents say they feel daily financial stress related to the cost of living in America, and more than half (59%) are cutting back on nonessential items due to the increasing cost of living. To add, more people would rather share their recent Google search history (57%) than their monthly credit card statement (43%). Still, when asked what 'Thriving in America' means to them, 42% chose work life balance.
The survey polled more than 1,000 Americans on their financial, life and work-related priorities and outlook after a year of market volatility and uncertainty. To learn more about the survey's findings, review the
"We all want to feel fulfilled, and our survey shows that Americans are prioritizing their happiness and personal life over money-but facing inflation, societal shifts and economic uncertainty, many remain concerned about their financial futures," said
As Americans focus on their personal well-being, many are in favor of a "soft-life culture" that defines success based on happiness, contentment, and fulfillment vs. "hustle culture," which defines success based on wealth, status, and achievement (36% and 28% respectively). Yet, 56% of Gen Z respondents say they currently identify most with a hustle culture-highlighting a generational gap in experiences and priorities.
Highlights include:
* Work-life balance is increasingly important. Continuing a trend seen year over year, more Americans say they value work-life balance (63%) over a high-paying salary (27%), compared to 57% and 33% respectively in 2022.
* Half (51%) of Americans have pulled more money from their savings this year than before. More than three in four (77%) of respondents across all generations believe the cost of living in America has gotten worse, with Boomers leading that feeling (92%).
* Millennials and Gen Xers are more likely to anticipate a recession in 2024. Of respondents that expect to be in a recession in the next 12 months, more than half (57%) are Millennials or Gen X.
* Women (35%) are more likely than men (24%) to feel financial stress related to the cost of living in American on a daily basis.
* Americans are making financial changes to achieve the dream of homeownership. Of those who are in the market for a home, the top step taken to save money for a home is to put away money in a dedicated savings account (43%). Still, 29% of Americans do not own a home and do not plan on purchasing one in the next 12 months. Of those respondents, only 1 in 10 indicate that home ownership is very attainable.
As Americans increasingly aim to strike a balance between professional success, personal fulfillment, and overall financial well-being,
Methodology
This survey was conducted online by
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