In 2009, Northwestern Mutual commissioned a study among U.S. adults aged 25+ to explore their attitudes and behaviors toward money and financial decision-making, as well as their opinions about broader ideas such as the attainability of the American Dream. The project was ultimately named the “Planning & Progress Study” and has been conducted every year for the last decade.

To mark the 10-year milestone of the research, the Planning & Progress Study kicks off this year with a look back at the original cohort surveyed – people who were aged 25+ in 2009 and are 35+ today. The findings reveal deep changes in their attitudes toward money and risk.

For starters, overall financial security and financial habits have markedly improved:

71% feel financially secure today vs. only 47% who felt financially secure in 2009

Compared to 10 years ago:

73% say their financial situation is better now

88% say their financial habits are better

74% are carrying less debt

74% are more frugal

66% have set specific goals for the next 5-10 years, while only 57% said the same in 2009

Optimism remains flat…

Despite the stronger financial footing, Americans have gotten substantially more cautious over the last 10 years. Much of that can be pegged back to the financial crisis of 2008 – something that left a deep behavioral mark on people’s lives which extends well beyond finances.

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www.thetimesusa.com/2019/05/17/the-united-states-has-had-a-major-shift-in-views-about-money-and-risk/