How Optimistic Are Americans About Their Finances?

However, as one would expect, not all Americans have returned to firm financial footing. JPMorgan’s survey noted that 51 percent of all Americans still say they have not put more money into savings accounts because of lingering financial pressures related to the economic downturn.

In these changing financial conditions, JPMorgan has found an opportunity. “As consumers begin to feel more optimistic about their financial situation, it’s more important than ever that we help them maintain good spending habits,” said Florian Egg-Krings, general manager, Chase Blueprint. “That’s why Chase Blueprint is launching a new initiative that provides research and information to help nurture a mindful spending movement. Together, we can help consumers strengthen the responsible spending and borrowing habits developed over the last few years.”

The new initiative found inspiration in a research project, titled “Born to spend? How nature and nurture impact spending and borrowing habits,” conducted jointly by Chase Blueprint and behavioral economist Dr. Hersh Shefrin. “Few question the importance of financial literacy, but we would benefit from a better understanding of how the human mind actually develops habits around spending and borrowing,” wrote Dr. Shefrin, the Mario Belotti Chair in the Department of Finance at Santa Clara University’s Leavey School of Business. “Based on a deep investigation of how people spend and borrow, this paper identifies three specific pathways for developing better financial habits.”