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MyBlack® Wealth
Survey: African-Americans more optimistic than whites about financial status improving
Source: Target Market News Posted: Tuesday, March 30, 2010(March 29, 2010) (March 29, 2010) A survey commissioned by Nationwide Insurance and The Tavis Smiley Group shows 58 percent of African Americans expect their financial situation to be better a year from now, compared to only 30 percent of the general population. However, most black households say they don't have a financial game plan and many don't know where to start. According to the online survey of 1,200 participants, African Americans have made more positive changes in the past year than the general population as a result of the economy, including creating a household budget (37 percent to 31 percent), focusing on paying off credit cards or other debt (49 percent to 42 percent) and starting or increasing contributions to their 401(k) (8 percent to 5 percent).
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