Nearly half of U.S. consumers think that their finances will be better off in the next year, as nearly a third saw improvements in their spending habits and savings, according to a new survey from Chase

Optimism is slightly higher among Black (54%) and Latinx (49%) respondents as many have taken action to improve their credit, spending, or earn a second income.

“These findings underscore the challenges from loss of jobs and income and the impact the pandemic has had on consumer finances, but also puts into focus how Americans are thinking about money in the future,” said Lawrence Bailey, head of community & business development at Chase. “Small steps matter. From saving a little more each month to monitoring your credit score – these steps help consumers prepare for the unexpected, while also setting them up for success in the long run.”

The new Chase Financial Health Consumer Study—conducted in partnership with Morning Consult—surveyed more than 5,000 U.S. consumers on the state of their finances, attitudes towards saving and budgeting, and actions they’ve taken to improve their financial health. 

The survey polled consumers across all demographics and took a closer look at the financial goals and impacts among Black and Latinx consumers – populations hardest hit by the economic impact of the pandemic.

Unsurprisingly, the pandemic has had a significant impact on consumers’ finances, as many experienced a loss of income or a financial fluctuation over the last year. Still, consumers feel more optimistic about their financial future and are taking actionable steps to improve their financial health, with 65% saying they believe they are currently in good financial health.

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