Knowledge Center

Americans Are Confident They Can Achieve Their Financial Goals, But High Costs and Poor Credit Create Obstacles for Many

educating-myself | Read Time: 3 minutes

By WSFS Contributor | Published: April 2022

Nearly three-quarters of Americans (72%) feel confident they will achieve their financial goals, according to a new WSFS Bank survey. However, two-in-five (39%) said they’re not confident they can keep pace with inflation’s impact on goods and services, and nearly a quarter (24%) say having poor credit prevents them from using financial products and services, underscoring the challenges consumers currently face when managing their money.

The study, which surveyed 1,500 consumers nationally and 1,750 in the Greater Philadelphia and Delaware region, gauged the financial goals, confidence and access of those 18 years and older.

Check out the infographic below to learn more about the study’s key findings.




How to Overcome Obstacles and Achieve Your Financial Goals

How to Overcome Obstacles and Achieve Your Financial Goals

Saving and money management are lifelong and can go a long way toward helping you achieve financial success. But even the best laid financial plans can be met with obstacles that require you to pivot in order to stay on track for your goals. A recent WSFS Bank study gauged the financial goals, confidence and access of those 18 years and older, and found that 67% in the Greater Philadelphia and Delaware region feel confident they will achieve their financial goals. However, obstacles such as inflation and poor credit still remained a concern for many regional consumers.

Read More
How To Build and Responsibly Use Credit

How To Build Your Credit Score and Responsibly Use Credit

March is National Credit Education Month, which serves as a good reminder of the importance of responsibly using credit during your financial journey. It is important, however, to remember that building your credit and living within your means should remain in focus throughout the year and not just the month of March. Whether you’re just getting started with borrowing or need a refresher on the basics, here are a few tips to help build and responsibly manage credit for your needs.

Read More
WSFS Mortgage Offers New Program to Help Customers Realize Their Dream of Homeownership

WSFS Mortgage Offers New Program to Help Customers Realize Their Dream of Homeownership

For many aspiring homebuyers, the biggest challenge to achieving their dream of homeownership is the upfront costs. Add in rising prices, stiff competition and bidding wars for houses over the past year, and the obstacles can seem overwhelming.

Read More
Tips to Get the Most Out of Online and Mobile Banking

Tips to Get the Most Out of Online and Mobile Banking

Online and mobile banking adoption has risen rapidly in recent years, particularly during the pandemic, as consumers look for a safe and convenient way to manage their money. While there is no one-size-fits-all when it comes to managing your finances, utilizing online and mobile banking can help in many ways.

Read More
How Does Your Credit Score Impact Your Financial Goals?

How Does Your Credit Score Impact Your Financial Goals?

Whether you’ve built a solid credit score already or have one that still needs work, it’s important to know what ways your credit score affects you.

Read More