💵New poll finds New Jerseyans feel better about finances than most Americans
💵Higher costs leading some to reduce spending, according to poll
💵Young adults skipping health care appointments to reduce costs, poll finds
NEW BRUNSWICK — Despite complaints about high property taxes and energy bills, New Jerseyans are feeling pretty satisfied about their personal finances these days.
A poll released on Monday from Rutgers-Eagleton and SSRS Garden State Panel finds that nearly half of New Jerseyans rate their financial situation “positively.” The statewide poll surveyed 1,006 adults in New Jersey between June 25 and June 29.
This number is in stark contrast to how New Jerseyans feel about the national economy.
The survey finds that 58% of those in the Garden State rate the nation’s economy as “bad” or “very bad.” The result, according to the poll, is only 1% higher than what Americans rate the nation’s economy overall.
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New Jerseyans feel better about finances than most
When asked about their personal financial situation, New Jerseyans gave more positive remarks when compared to most Americans, 47% versus 40%, according to the poll.
Ashley Koning, director of the Rutgers-Eagleton Center for Public Interest Polling at Rutgers University-New Brunswick and an assistant research professor, said with some of the highest-income households in the country and the most affluent ZIP codes, it’s not surprising New Jerseyans feel better than most Americans.
“This is no surprise that New Jerseyans may feel a little better where they are on their own terms and what’s happening in their own pocketbooks and wallets compared to Americans overall,” Koning said.
Poll finds some cutting back on expenses
Despite confidence in their finances, New Jerseyans are pulling back on some expenses as costs for gas, food and energy continue to push upward.
The poll finds that 73% of New Jerseyans have tried to lower their utility bills in the three months before the survey was conducted. That number is 9% higher than Americans who said the same.
A greater percentage of New Jerseyans also indicates they have changed their grocery-buying habits to stay within budget and have reduced the amount spent on nondiscretionary things like entertainment.
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Financial strain more common for some groups
Koning said the poll reveals that some groups in New Jersey are feeling far greater strain.
“This is the all too familiar and unfortunate tale of two New Jerseys,” Koning said. “We see that economic sentiment varies sharply by age, by race and by ethnicity, as well as income.”
The poll finds that financial strain is greater for Black and Hispanic residents, lower-income households, and those between the ages of 18 and 34 when it comes to their own finances and household spending.
One of the troubling realities the poll reveals is that younger people are canceling or postponing health care appointments or treatments due to financial strain at a higher rate than those 65 and older.
New Jerseyans more positive about job market
New Jerseyans also give better marks regarding their own employment when compared to the rest of the country. The poll finds that 52% of those surveyed in New Jersey rate their job situation “positively.” That compares to 46% of Americans who said the same.
When asked about the U.S. job market, things turned sour, with 53% of New Jerseyans rating the job market negatively.
Click here to read the full survey.
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