Chase Survey: Most Consumers Down on U.S. Economy

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MoneyA majority of U.S. consumers see their personal finances as improving, but are mostly pessimistic about the nation’s economic future, according to a new survey from Chase Card Services.
The Chase survey found that 57 percent believe they have “turned the corner on their own finances,” while only 39 percent believe the U.S. economy is improving.
The 2010 Personal Finance Confidence Survey surveyed 1,000 American consumers about personal finances and the economy in the new year.
Most significant to Chase, the top credit card issuer in the nation: 68 percent say they would benefit from better ways to manage their personal finances.
“Consumers tell us they’re looking ahead with optimism about their own finances and have learned important lessons from the challenging year we’ve all been through,” said Stephanie Jacobson, of Chase Card Services. “We know that while most trust their own judgment, they also recognize the need for better ways to help them achieve their goals.”
Another key finding: 72 percent of respondents trust themselves most when it comes to managing their personal finances. But 68 percent said “they would benefit from better ways” to manage their personal finances. 
“Most people say they don’t feel completely in control of their finances and recognize the need to do a better job managing them,” said Hersh Shefrin, author of Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing, and a leader in behavioral finance. “People have a greater chance of success when they take advantage of resources that help them achieve their goals.”
The results seem to support Chase’s strategy behind Chase Blueprint, the card with account features that helps customers manage their spending and borrowing.
“Blueprint provides these features to customers free so they can pay down balances, manage everyday spending and pay off major purchases,” Chase said.

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