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Do Conservatives and Liberals Have Different Financial Outlooks?

By:The tastylive Team

YouGov surveyed more than 6 million Americans on this question and more to understand impacts of political ideology and other factors on financial optimism

YouGov's U.S. Consumer Finance Outlook 2024—a report leveraging YouGov’s panel of more than 6 million Americans—shows most Americans are more optimistic about the economy heading into 2024 than they were in 2023.

Here are five key findings:

1.How conservatives vs. liberals look at their finances

According to the report, a third of conservatives expect a worse financial situation in the next year, while liberals are more optimistic about the future.

Do conservatives and liberals have different financial outlooks?

2.Political groups' financial outlooks and economic realities

Both liberals and conservatives report having higher disposable income as compared to 2019, though conservatives seem to have less discretionary income than liberals.

Do political groups' financial outlooks reflect economic realities

All generations, from 18-55+ years old, seem united in pessimism about the financial outlook for 2024 compared with four years ago. But all generations also have more disposable income today than four years ago.

All generations have more disposable income

3.The influence of artificial intelligence

Opinions on AI are divided, but 37% of those surveyed said financial outlook is better based on AI optimism. Of course, those who are more positive about the help of AI are the ones who are willing to embrace AI technology.

Is artificial intelligence influencing financial optimism

4.The impact of inflation

Most Americans surveyed are seeing prices rise in food/groceries and are opting to cut back on eating out. The current U.S. inflation rate is 3.4%, compared to 6.5% in 2022.

Where are Americans feeling inflation

5.Stocks and bonds remain popular

Surveyors were asked which products, if any, were they likely to take out in the next year, and 12% answered common stock in 2023, compared with 9% in 2019.

Stocks and bonds remain popular

Check out the full report and explore more data from YouGov here.

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