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TheStreet Open House

Americans Express Overwhelming Confidence In Their Own Financial Decision-Making Ability But Remain Concerned About The Economy

Stocks in this article: ALL

Americans are most likely to turn to friends or family members for information on managing their personal finances. Nearly half (47 percent) say they seek this "informal" advice while just one in three (33 percent) turn to a professional financial adviser, one in four (24 percent) seek advice from a banker at a branch location, and about one in six (17 percent) turn to a credit union.

The Obama presidency has hit a low-water mark in the Heartland Monitor Poll series. Just 23 percent of Americans believe the country is headed in the right direction and pessimism stretches across all socioeconomic groups. President Obama's job approval has slipped to 38 percent, a new low for his presidency in this poll. His approval rating is now just 29 percent among independents, 29 percent among whites, and just 52 percent among Hispanics. Democrats (76 percent) and African-Americans (76 percent) remain supportive, though at reduced levels. Additionally, just 9 percent of Americans approve of the job Congress is doing, a 12-point drop from one year ago (21 percent).

Economic and personal financial indicators are also at or near their low point. Just 11 percent think the economy is in "excellent" or "good" shape, while 45 percent think it's in "fair" shape and 44 percent think it is in "poor" shape. More Americans (36 percent) believe the economy will get worse over the next 12 months than those who believe it will improve (29 percent). Still, more Americans think their own situation will improve over the next year (39 percent) than believe it will become worse (15 percent). This holds true among all socioeconomic situations, demonstrating some continued optimism among the American public in the face of an uncertain economy and mixed economic experiences.

Key findings from the 19th Allstate/ National Journal Heartland Monitor Poll are also available via PDF. Additional information on the entire polling series can be found at: http://www.theheartlandvoice.com/category/insights.

Survey Methodology Since April 2009, the quarterly Allstate/ National Journal Heartland Monitor Polls have explored Americans' personal financial experiences, their views on the financial system, and their opinion of how the federal government's budget situation impacts their personal finances. The most recent Allstate/ National Journal Heartland Monitor poll was conducted by FTI Consulting, from Nov. 2-6, 2013, among N=1,000 American adults age 18+ reached via landline and cell phone.  The margin of error for the N=1,000 telephone sample is plus or minus 3.1 percentage points.

About Allstate The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate®, and are widely known through the slogan "You're In Good Hands With Allstate®." As part of Allstate's commitment to strengthen local communities, The Allstate Foundation, Allstate employees, agency owners and the corporation provided $29 million in 2012 to thousands of nonprofit organizations and important causes across the United States.

About National Journal National Journal is Washington's premier source for 360-degree insight on politics and policy. With up-to-the-minute breaking news and analysis at NationalJournal.com, the essential intelligence of National Journal Daily, the knowledge and depth of National Journal magazine, and the comprehensive campaign coverage of National Journal Hotline, National Journal delivers everything you need to know to stay ahead of the curve in Washington.

About FTI Consulting FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With over 3,900 employees located in 24 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The Company generated $1.58 billion in revenues during fiscal year 2012. More information can be found at www.fticonsulting.com.

SOURCE The Allstate Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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