Connect with us

Finance

Survey: 44% of Americans believe their finances will improve in 2025, an increase from previous years

Published

on

Survey: 44% of Americans believe their finances will improve in 2025, an increase from previous years

More Americans are expressing optimism about their finances as pandemic-era price hikes and the “vibecession” increasingly fade away.

Bankrate’s latest Financial Outlook Survey finds that 44 percent of Americans think their finances will improve in 2024. This compares with 37 percent who said in a 2023 survey that they expected their finances to improve in 2024. Previously, 34 percent said the same in 2022 (regarding their finances in 2023) and 21 percent said the same in 2021 (regarding their finances in 2022).

There’s at least one clear reason for the optimism: Fewer Americans think inflation will impact them. Among those who are optimistic about their finances next year, 36 percent say they feel that way because of lower levels of inflation, which is up 17 percentage points from a similar survey Bankrate ran in 2023. Among those who think their finances won’t improve, 44 percent blamed continued high inflation. That’s down from 61 percent in 2023.

Inflation has been steadily trending toward the Federal Reserve’s target of 2 percent after hitting a 41-year record high in 2022. According to the Bureau of Labor Statistics’ consumer price index (CPI) report, inflation in November came in at 2.7 percent, up slightly from the prior month and in line with economists’ expectations.

More Americans appear to be optimistic about their finances this year as they look ahead to 2025, according to the survey. Nearly half (44 percent) said they expect their finances will improve next year, which is up from 37 percent who said the same in a 2023 survey (regarding their finances 2024) and 34 percent who said so in a 2022 survey (regarding their finances in 2023).

Advertisement

Roughly 1 in 3 Americans (33 percent) think their finances will stay about the same and 23 percent think they’ll get worse, including 10 percent who think they’ll get significantly worse. Combined, that means 56 percent don’t expect their financial situation to improve next year.

Source: Bankrate survey, Nov. 6-8, 2024

Across generations, those who expect their finances to get better next year include:

  • 55 percent of Gen Z (ages 18-27)

  • 49 percent of millennials (ages 28-43)

  • 38 percent of Gen X (ages 44-59)

  • 37 percent of baby boomers (ages 60-78)

Those who think they will get worse include:

Every week, Bankrate publishes proprietary surveys, studies and rate data, providing the latest data-driven insights on the state of Americans’ personal finances — including credit card debt, homeownership, insurance, retirement and beyond.

Advertisement

See more

Even though inflation is tamer now compared to the last two years, the pain of rising prices hasn’t completely subsided. The prices of goods and services are still rising — just not as quickly as before. Inflation continues to show up in Americans’ daily lives, from groceries to car insurance to rent, and wages are still playing catch-up. According to Bankrate’s Wage to Inflation Index, wages aren’t projected to fully recover from inflation until the second quarter of 2025.

Forty-four percent of those who think their financial situation will not improve next year blame continued high inflation. That compares to 61 percent who cited it a year ago. Other top reasons why Americans think their finances will not improve include work done by elected officials (30 percent), stagnant or reduced income (28 percent) and the amount of debt they have (20 percent).

Source: Bankrate survey, Nov. 6-8, 2024
Note: Percentages are of U.S. adults who think their personal financial situations will not improve in 2025.

On a more optimistic end of the spectrum, for those who think their financial situation will improve next year, 36 percent cite lower levels of inflation as a reason. Other popular reasons are rising income from employment, Social Security, a pension, etc. (35 percent); having less debt (30 percent); and better spending habits (25 percent).

Advertisement

Source: Bankrate survey, Nov. 6-8, 2024
Note: Percentages are of U.S. adults who think their personal financial situations will get better in 2025.

Additionally, 25 percent who believe their finances will get better in 2025 give credit to work done by elected officials. Following the election, our survey shows that many Americans view elected officials as either hindering potential financial progress or as a catalyst for improvement. While this shows a continuing political division, Hamrick suggests identifying financial goals and working toward them, regardless of political beliefs.

“Political cycles come and go, but the need to attend to our financial well-being remains,” he says.

The most common main financial goal cited by Americans for 2025 is paying down debt (21 percent), and that percentage tends to rise with age. Generationally, that breaks down to:

Carrying credit card debt is costly, but it’s become more common over the last few months. As of June 2024, at least half of Americans carry a credit card balance from month to month, according to Bankrate’s Credit Card Debt Survey. That’s up from 44 percent in January 2024, and the highest percentage since March 2020 (60 percent).

Advertisement

“Average credit card interest rates top 20 percent (still close to a record high),” Hamrick says. “Targeting high-cost debt can provide an immediate benefit.”

Source: Bankrate survey, Nov. 6-8, 2024
*(e.g., vacation, home renovation, big ticket item, etc.)

Saving more for emergencies is the second most common main financial goal among Americans (12 percent), followed by getting a higher-paying job or an additional source of income (11 percent) and budgeting spending better (10 percent).

Roughly 1 in 10 Americans (11 percent) say they have no financial goals for 2025. Baby boomers are the most likely generation to say they have no financial goals for the next year:

  • Gen Z: 6 percent

  • Millennials: 10 percent

  • Gen X: 9 percent

  • Baby boomers: 16 percent

Of those who identified a financial goal for 2025, 43 percent say that it’s a New Year’s resolution they’ll address immediately.

Advertisement

Thirty-five percent say it’s a medium-term issue, meaning they’ll address it once they’ve had some time to think and plan. Thirteen percent called their main financial goal a long-term issue and will address it after they’ve had an extended period to do research or find advice.

One in 10 Americans (10 percent) said they don’t know how they’ll address their main financial goal in the coming year.

Source: Bankrate survey, Nov. 6-8, 2024
Note: Percentages are of U.S. adults who have a financial goal in 2025.

Over the last few years, there has been a disconnect between how well the economy is doing and how people feel about their financial standing. The economy has managed to avoid a recession for a few years, inflation has been tamed, interest rates have fallen and the job market continues chugging along. Yet the positive economic data hasn’t aligned with Americans’ perceptions of the economy.

Bankrate’s new Financial Outlook survey shows a possible shift in that narrative. Americans may be warming up to the idea that the economy — and everything related to their finances — will hold up better in 2025.

Advertisement

Regardless of what’s anticipated, financial experts recommend “future-proofing” your finances, and the New Year is a great opportunity to get ahead. To make progress in 2025, especially following the holidays, take the time to get a comprehensive understanding of where your current finances stand, set new financial goals and put together a financial plan. Hamrick recommends regularly checking in on your finances and goals to make sure you’re staying the course.

“It is one thing to have a financial goal, it’s another to act upon it,” Hamrick says. “Once past the new year, consider scheduling monthly or quarterly check-ins to assess your progress. Tiny changes can lead to big results, particularly with money.”

Finance

Business continuity & disaster recovery in finance: Endpoint resiliency in a high-stakes world

Published

on

Business continuity & disaster recovery in finance: Endpoint resiliency in a high-stakes world

In financial services, “time is money” is more than a saying — it’s an unforgiving law. A few hours of downtime can mean millions lost, confidence shaken, and regulators knocking. 

As firms invest heavily in data protection, disaster recovery, and infrastructure redundancy, one critical layer often remains underinvested: endpoint resilience. The devices that connect analysts, traders, portfolio managers, risk teams, and back‑office staff to core systems are often the weakest link, and when they fail, the rest of the architecture can’t save you fast enough.

Why endpoints are the last mile of risk

Regulators are already raising the bar. The FFIEC’s modern guidance for U.S. financial institutions reframes the standard from simple business continuity and disaster recovery (BC&DR) plans to operational resilience, demanding full continuity even under cyber disruption. In 2025, global regulatory regimes are similarly shifting, like DORA in the EU, for example, mandating rigorous ICT risk management, continuity, and incident response rules across financial institutions. It isn’t enough to recover your back-end systems; your users must be able to reconnect securely and fast.

Here’s the hard truth: More than half of attacks in financial services begin at endpoints. In 2024, 65% of financial institutions reported ransomware attacks. Of those, 49% experienced full encryption of datathough many also mitigated before full encryption. The average recovery cost (excluding ransom) in finance hit $2.58M in 2024, and ransom demands routinely range into the millions. 

Advertisement

When systems grind to a halt in finance, the effect isn’t just measured in spreadsheets — it’s seen on the trading floor, in anxious client calls, and across frozen payment screens. Downtime isn’t just a technical hiccup; it erodes trust and sends shockwaves across the business. A few minutes offline can mean missed trades, unsettled deals, and regulatory headaches that persist long after recovery.

Today, most downtime is tied to security incidents and not just IT failures. That means the pressure is higher, and expectations from regulators and clients are relentless. Traditional fixes like hardware swaps or reimaging can’t keep up. In finance, recovery needs to be instant, seamless, and leave no room for doubt because every moment counts.

The real costs of traditional endpoint recovery in finance

Let’s examine a few real-world barriers:

  • Scale & complexity: Financial institutions often manage tens of thousands of endpoints across trading floors, branch networks, remote staff, and data centers.
  • Critical prioritization: Some devices, such as those running trading desks or risk models, must come back online before others.
  • Forensic & compliance integrity: Overwriting or wiping devices can destroy audit trails needed for post-incident investigations and regulatory reviews.
  • Latency to value: Shipping replacement devices or reimaging at scale introduces unacceptable delays.
  • Dependency on VDI/remote desktop: But what if the endpoint itself is compromised or can’t initiate the remote session? That fallback collapses under attack.

Even in the most mature BC/DR strategies, endpoint recovery is typically an overlooked blind spot.

IGEL: Embedding continuity into every endpoint

Advertisement

IGEL’s approach to BC&DR closes this gap with endpoint‑level resilience that matches the expectations in finance. Instead of treating endpoints as passive dependencies, IGEL turns them into active recovery enablers.

  • IGEL Dual Boot & USB fallback: Each device boots into an immutable IGEL environment separate from the main system, so users can regain secure access instantly, without wiping or losing the original partition.
  • Scale with control: IGEL Universal Management Suite (UMS) orchestrates recovery across thousands of endpoints from one console while enforcing policy and priority.
  • Preserve forensic integrity: The compromised partition remains untouched, preserving logs and evidence for regulators and investigations.
  • Regulator-ready workflow: IGEL’s architecture aligns with operational resilience frameworks (e.g. DORA, FFIEC, local mandates), enabling auditable and rapid recovery steps.
  • Minimized disruption: No hardware swaps, no freight delays, no extended downtime. Users reboot and resume work in minutes — not hours, not days.

For finance, this is more than a technical improvement, it’s a structural advantage. Imagine a trading desk seamlessly rebooting into a clean environment while IT investigates. 

Making endpoint recovery the next pillar of resilience

To adopt endpoint resilience, financial leaders should:

  1. Reframe endpoint risk: View endpoints as active assets in recovery, not passive liabilities.
  2. Simulate real attacks: Test a full-scale endpoint compromise in tabletop and live drills.
  3. Tier your devices: Assign priority levels (trading, risk modeling, client-facing) and map recovery SLAs accordingly.
  4. Integrate IGEL BC&DR: Deploy the IGEL Dual Boot failover plan across endpoints layered into your continuity playbooks.
  5. Audit & certify: Use IGEL’s immutable architecture and audit trails to satisfy regulators demanding proof of quick, reliable recovery.

Conclusion: Not just resilience — Continuity without compromise

In finance, downtime bleeds value faster than any other domain. The best business continuity and disaster recovery strategies already protect data, applications, and infrastructure. But true resilience demands one more layer at the endpoints.

IGEL BC&DR empowers financial services firms to convert their most vulnerable assets into recovery enablers, shrinking downtime from days to minutes, safeguarding compliance, preserving forensic visibility, and keeping clients, stakeholders, and regulators confident through disruption.

Advertisement

If you’re ready to elevate your continuity approach and embed resilience where it really matters, see IGEL in action today.

Continue Reading

Finance

Asian stocks rise as US rate hopes soothe nerves after torrid week

Published

on

Asian stocks rise as US rate hopes soothe nerves after torrid week
Investors are awaiting the latest US inflation data this week that could guide the Federal Reserve’s decision-making on interest rates (RONALDO SCHEMIDT)

Asian markets mostly rose Monday as fresh hopes for a US interest rate cut provided some calm after last week’s rollercoaster ride fuelled by worries of a tech bubble.

The scramble to snap up all things AI has helped propel equities skywards this year, pushing several companies to records — with chip titan Nvidia last month becoming the first to top $5 trillion.

But investors have grown increasingly fearful that the vast sums pumped into the sector may have been overdone and could take some time to see profits realised, leading to warnings of a possible market correction.

That has been compounded in recent weeks by falling expectations the Federal Reserve will cut rates for a third successive time next month as stubbornly high inflation overshadows weakness in the labour market.

However, risk appetite was given a much-needed shot in the arm Friday when New York Fed boss John Williams said he still sees “room for a further adjustment” at the bank’s December 9-10 policy meeting.

Advertisement

The remarks saw the chances of a cut shoot up to about 70 percent, from 35 percent earlier.

Focus is now on the release this week of the producer price index, which will be one of the last major data points before officials gather, with other key reports postponed or missed because of the government shutdown.

“The reading carries heightened importance following the postponement of October’s personal consumption expenditures report, originally scheduled for 26 November, which removes a key datapoint from policymakers’ assessment framework,” wrote IG market analyst Fabien Yip.

“A substantially stronger-than-expected PPI outcome could reinforce concerns that inflationary pressures remain entrenched, potentially constraining the Fed’s capacity to reduce rates in December despite recent labour market softening.”

After Wall Street’s rally Friday capped a torrid week for markets, Asia mostly started on the front foot.

Advertisement

Hong Kong and Seoul jumped more than one percent, while Sydney, Singapore, Wellington and Taipei were also well up, though Shanghai and Manila retreated. US futures advanced.

Tokyo was closed for a holiday.

But while the mood is a little less fractious than last week, uncertainty continues to weigh on riskier assets, with bitcoin hovering around $87,000.

While that is up from its seven-month low of $80,553, it is still sharply down from its record $126,200 hit last month.

– Key figures at around 0230 GMT –

Advertisement

Hong Kong – Hang Seng Index: UP 1.4 percent at 25,568.08

Shanghai – Composite: DOWN 0.1 percent at 3,829.71

Tokyo – Nikkei 225: Closed for a holiday

Dollar/yen: UP at 156.70 yen from 156.39 yen on Friday

Advertisement

Euro/dollar: DOWN at $1.1515 from $1.1519

Pound/dollar: DOWN at $1.3096 from $1.3107

Euro/pound: UP at 87.92 pence from 87.88 pence

West Texas Intermediate: DOWN 0.2 percent at $57.93 per barrel

Brent North Sea Crude: DOWN 0.2 percent at $62.44 per barrel

Advertisement

New York – Dow: UP 1.1 percent at 46,245.41 (close)

London – FTSE 100: UP 0.1 percent at 9,539.71 (close)

dan/rsc

Advertisement
Continue Reading

Finance

Donating Stock Instead of Cash Is the 2-for-1 Deal You’ll Love at Tax Time

Published

on

Donating Stock Instead of Cash Is the 2-for-1 Deal You’ll Love at Tax Time

For many families, the holiday season comes with familiar rituals: untangling last year’s Christmas lights, decorating the tree and rediscovering ornaments we swore we’d organize “better next year.”

Charitable giving should feel just as joyful and natural — but for many households, it’s also a moment when good intentions collide with inefficient habits.

Continue Reading

Trending