Majority of Americans Found 2022 to Be Economically Difficult  Majority of Americans Found 2022 to Be Economically Difficult 
America's Financial Setback: will 2023 be better?

Majority of Americans Found 2022 to Be Economically Difficult 

With 2022 coming to a close, many are now looking ahead to the new year. Unfortunately, it seems that some consumers have had a rough financial year that’s left them pessimistic about what’s ahead.

According to Slickdeals’ survey of more than 2,000 Americans, 58% of respondents described 2022 as being “economically difficult.” This was a major change from 2021 when only 15% of those surveyed said the same. In fact, the response was even more common this year than in 2020 (47%).

Looking ahead, the number of consumers who plan to make “being smarter with money” one of their 2023 resolutions was down from previous years. This time around, 63% reported having such a goal on their list compared to 76% in 2021 and 73% in 2022. Interestingly, 11% also stated that 2022 left some so frustrated that they don’t intend to make any resolutions for 2023. Respondents were also less likely to believe that the new year would see them become financially stable. In this survey, 53% said they had such hopes for 2023 — down from 66% who said the same of 2022 last year. 

As for what’s ailing consumers, 79% cited inflation as a concern. Moreover, two-thirds (66%) of respondents said they believe inflation would be a “major setback” to them reaching their financial goals in the new year. For context, the overall Consumer Price Index increased 7.1% between November 2021 and 2022, although the rate of inflation has slowed, growing 0.1% during the month.

In a statement about the findings of the survey, Slickdeals’ personal finance content manager Louie Patterson said, “While this year’s survey reveals that folks are less optimistic about their finances than they have been in past years’ surveys, the new year is a good opportunity for a financial reset.” Patterson also offered a tip to consumers looking to improve their finances in 2023, noting, “Shopping smarter can lead to big savings with just a few simple tweaks such as eliminating subscriptions, tapping into rewards programs, and finding more deals to get the best value.”

Given the financial challenges that 2022 has brought, it’s understandable that a number of Americans would be concerned about 2023. And while there is still economic uncertainty, there are reasons for consumers to be hopeful as inflation continues to slow and jobs are added. Of course, no one can predict the future. Therefore, it’s up to individuals to manage what they can with their finances and do their best to reach their money goals. Hopefully, by taking small steps and staying the course, consumers will be able to do just that in 2023.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....