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Pandemic sinks Americans' personal financial satisfaction

AICPA's quarterly economic gauge finds a big drop in how we view our financial situations in the U.S. -- but how bad is it?

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The personal satisfaction of the average American has taken a tumble along with the economy in the initial impact of the coronavirus pandemic, causing the biggest drop in more than 10 years.

In fact, according to the American Institute of CPAs’ Q1 2020 Personal Financial Satisfaction index (PFSi), a quarterly economic gauge using data from the Bureau of Labor Statistics and Federal Reserve Board of Governors to measure the personal financial standing of a typical American, it’s the biggest drop since the Great Recession—Q4 of 2009.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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