Financial Sentiment Among Americans Post 2020 Election – Study
With Joe Biden winning the 2020 US election and having over 78 million people vote for him, America has a new president to lead the country in 2020 and beyond.
This study focuses on gaging how Americans feel about the election results and the impact it may have on their financial lives. Through our data we tried to understand the sentiment that Americans have with respect to the election results, financial ramifications of the election on their own lives and the differences in financial concerns prior to and post 2020 election.
Below you will find the key findings of this survey study. A further breakdown of the data can be found after the key findings section along with the methodology and demographics. You can skip to each section by clicking on one of the headings below.
KEY FINDINGS
Sentiment Among Americans Post 2020 Election
According to our data, the majority of Americans (62.4%) reported that they are happy with results of the election while 28% said they were not. A breakdown of these findings can be found below along with financial optimism and discretionary spending data.
Satisfaction with 2020 Election Results
62.4% of Americans indicated that they were ‘Happy’ with the results of the 2020 election.
28.4% of Americans indicated that they were ‘Not Happy’ with the results of the 2020 election.
9.2% of Americans indicated ‘No Change’ in how they felt about the results of the 2020 election.
Financial Optimism Post 2020 Election
48.6% indicated that they are ‘More Optimistic’ about their financial future now versus prior to the election.
29.4% indicated that they are ‘Less Optimistic’ about their financial future now versus prior to the election.
22% indicated ‘No Change In Optimism’ about their financial future now versus prior to the election.
Discretionary Spending Changes Post 2020 Election
Only 11.9% of Americans plan to ‘Increase’ their discretionary spending over the next year due to the outcome of the 2020 election.
88.1% of Americans indicated that they ‘Do Not’ plan to increase their discretionary spending over the next year due to the outcome of the 2020 election.
Financial Concerns Prior To & Post 2020 Election
According to our data, ‘COVID-19’ and ‘Debt’ were and remain the biggest financial concerns among Americans prior to and post 2020 election. However, with Joe Biden winning, Americans now feel less concerned about COVID-19 (~10% change) but more concerned about Taxes (~10% change). Below is a detailed breakdown of the data.
Financial Concerns Prior To The 2020 Election
Financial Concerns Post 2020 Election
Biggest Changes In Financial Concerns Prior To & Post 2020 Election
10.1% less Americans believe that ‘COVID-19’ is their number one financial concern due to Job Biden’s win.
10.2% more Americans believe that ‘Taxes’ is their number one financial concern due to Joe Biden’s win.
Millennial Sentiment Post 2020 Election
According to our data, Millennials are happier (71.1%) with the election results than other age groups and are more optimistic about their financial future as well (62%). COVID-19 and Debt also rank high on their financial concerns list.
Satisfaction & Financial Outlook Post 2020 Election Results
71.1% of Millennials are happy with Joe Biden winning the 2020 election.
62% of Millennials are more financially optimistic after the 2020 election.
COVID-19 Concerns Prior To & Post 2020 Election
PRIOR
46.7% of Millennials cited ‘COVID-19’ as their biggest concern prior to the 2020 election.
POST
COVID-19 still remained the biggest concern among Millennials after the election at 35.6%.
Financial Concerns Among Millennials Post 2020 Election
SURVEY METHODOLOGY & DEMOGRAPHICS
For the purpose of this study, we surveyed 1090 Americans to find out their financial sentiment post 2020 election. The survey was conducted through SurveyMonkey services.
The demographic composition of the 1090 individuals surveyed is as follows.
Age
Gender
Income
WRAP UP
Based on the data we gathered, the majority of Americans feel good about Joe Biden winning, are more optimistic about their financial future and are less concerned with COVID-19 as a financial threat than they were prior to the 2020 election. While Joe Biden’s presidency is yet to begin impacting Americans across the country, the overall outlook is positive.
Here are a few resources pertaining to the 2020 Election that you might find useful:
