Survey Reveals Only 11% of Americans Feel Financially Free

A recent survey conducted by digital personal finance company Achieve has revealed that only 11% of Americans believe they have achieved their definition of financial freedom. This finding sheds light on the struggles many individuals face when it comes to their financial well-being.

The survey found that the most common definitions of financial freedom included being debt-free, living comfortably (even if not rich), being able to meet monthly financial obligations with money left over, and never having to worry about money. Surprisingly, just 12.6% of respondents classified wealth as financial freedom, indicating a shift in priorities among Americans.

Achieve co-founder and Co-CEO Brad Stroh noted that many families are now focused on simply being able to pay their bills on time, rather than striving to become rich. Financial stability remains a challenge for those living with debt, with more than half of respondents in each generation citing being debt-free as their top financial goal.

Despite the challenges, there is a glimmer of hope among respondents. More than half believe that their journey toward financial freedom is improving, signaling a sense of optimism amidst the financial struggles. However, the survey also highlighted that many Americans are still far from reaching their financial goals, with a significant portion lacking well-funded savings accounts.

Overall, the survey paints a picture of the financial realities faced by many Americans and underscores the importance of financial literacy and planning in achieving true financial freedom.