New NetCredit Survey Finds One Third of Americans Expect Presidential Decision to Negatively Impact Their Paychecks
Half of Americans Anticipate Both Taxes and Healthcare Costs to Increase Post Election
CHICAGO (October 24, 2012) – Four out of 10 Americans say they are already spending less prior to the upcoming U.S. Presidential election due to concerns that the outcome will negatively impact their paychecks, according to a new survey by online personal loan provider NetCredit. Most concerned are those individuals age 50 to 59 with more than half (53 percent) spending less prior to the election.
Only Five Percent Think their Paycheck Will be Positively Impacted by Upcoming Election
When asked about the anticipated impact that the U.S. presidential election will have on their personal finances, 35 percent of individuals believe their paycheck will remain the same while 31 percent believe it will be negatively impacted. Only five percent believe their paycheck will be positively impacted post election. Once again, individuals age 50 to 59 are more concerned about negative implications to their paychecks at 44 percent.
“The survey findings illustrate that managing day-to-day personal finances is a struggle for many Americans in today’s economy,” says Stephanie Klein, head of consumer lending for online personal loan provider, NetCredit. “Even events like the upcoming election force many Americans to re-think their finances and spending habits.”
Concern Over Tax and Healthcare Increases
An increase in taxes and health care costs are of concern among those polled in the survey. Nearly half of Americans (49 percent) anticipate that taxes will increase following the election; while 19 percent believe taxes will remain the same. Those ages 50 to 59 have the highest concern that taxes will increase at 64 percent. Only four percent of Americans believe taxes will go down as an outcome of the election.
When questioned about the U.S. Presidential elections and implications on one’s personal finances, more than half (58 percent) believe that healthcare expenses will rise versus 14 percent who think they will stay the same and seven percent who think healthcare expenses will go down.
Anticipating Personal Impact from European Crisis
Almost half of Americans (47 percent) are concerned that the economic problems in Europe will have a negative impact on their personal finances, especially for those with incomes more than $75,000 (54 percent) and aged 50 to 59 (58 percent). Men are more concerned about the effects of the European economic crisis (52 percent) than women (41 percent).
About the Survey
This NetCredit survey was conducted online in September 2012 by TNS Omnibus among a national sample of 1,000 Americans over age 18. The margin of error for the national sample is approximately three percent. Surveys are subject to other error sources as well, including sampling coverage error, recording error, and respondent error.
The survey did not ask the respondents which candidate they are voting for or who they anticipate will win the election.
For the full survey results, please go to: http://netcredit.com/news-media/americans-spending-less-before-elections.
About NetCredit
NetCredit, a service of Chicago-based Enova International, is a licensed online lender for small personal loans, and an ideal choice for consumers who cannot qualify for a traditional credit product through their local bank. A trusted online provider, NetCredit ingrains a “customer first” attitude into everything it does, and works hard to deliver the best financial services to close the credit gap for underserved customers.