U.S. workers are becoming more stressed about finances, BofA survey shows
NEW YORK (Reuters) -U.S. workers are becoming more stressed about their rising personal debts and financial health, a Bank of America survey showed.
Of the respondents polled by BofA, 47% of employed people said they had a sense of financial well-being, dropping from 52% at the start of the year.
Nearly 85% of consumers carried some type of personal debt, while 26% of the workforce was seeking help in areas such as emergency savings, paying down debt, and overall financial wellness, compared with 13% in 2023, according to the May survey of more than 1,000 people working full-time.
Nearly 77% of the employees surveyed were worried about the economy. The U.S. labor market is slowing and consumers with the highest credit scores are starting to fall behind in debt repayments, credit scoring company VantageScore said in an earlier report.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Most investors will find it hard to answer that question with total confidence. Short of a guarantee, which no one can give you, the most successful traders stick to proven best practices without letting hype or hyper-vigilance take over their better judgment.
But that doesn't mean you can't use smart shortcuts. If you're considering BAC, try chatting with WarrenAI, our powerful AI financial assistant.
It's just like ChatGPT for investors, but with access to 10 years of company data, a built-in screener, Wall Street analysts' reports, and earnings call transcripts for real-time, vetted insights.
Even if you end up going with your gut feeling, at least you'll know why.
