Data Spotlight: Financial well-being in America, from 2017 to 2020
June 8, 2022 / Source: CFPB
In 2017, CFPB published its first report on Financial Well-Being in America. Since then, the financial circumstances of many Americans have changed dramatically. This spotlight shows that Americans experienced an average increase in their financial well-being between 2017 and 2020, likely boosted by the large government response to the COVID-19 pandemic. Yet, a deeper analysis shows that the largest increases were experienced by those with higher incomes, and that approximately one-third of Americans saw a decline in their financial well-being.