Nebraskans feel they are mostly faring OK financially, according to the latest Nebraska Snapshot from the University of Nebraska–Lincoln’s Bureau of Sociological Research — however, there are large discrepancies when the numbers are broken down by age and level of education.
The Nebraska Snapshot is released every other month and shares data from the most recent Nebraska Annual Social Indicators Survey, a yearly poll of Cornhusker State residents conducted by the bureau.
From the survey of 1,725 Nebraskans, conducted between July and November 2023, 50% said they are “satisfied” with their financial situation, with 55% reporting they had no difficulty paying monthly bills. On the flip side, 26% are dissatisfied and 26% have a great deal, quite a bit or some difficulty paying bills.
This is similar to national findings. A recent Harris Poll survey, in partnership with Axios, revealed that about 63% of Americans rate their current financial situation as good or very good. A Gallup survey from April 2023 had 45% of Americans rating their financial situation as excellent or good.
In Nebraska, seniors seem to be faring the best, with 66% of those 65 and over reporting a satisfactory financial situation. For those aged 19-44, only 42% are satisfied; and 50% of those aged 45-64 are satisfied with their financial situation. Similarly, 70% of those aged 65-plus say they have no difficulty at all paying their bills, compared to only 46% in the 19-44 age bracket. It slightly improves for those aged 45-64, with 55% saying they face no difficulty.
Financial satisfaction also seems to rise with education level. Among Nebraskans with a bachelor’s degree or higher, 60% reported financial satisfaction, in contrast with only 38% with a high school diploma or less. Those with a bachelor’s degree also had less difficulty paying their bills, with 65% reporting no difficulty. Only 45% of those with a high school diploma or less reported no difficulty, while 37% reported a great deal, quite a bit or some difficulty paying bills each month.
The most recent Nebraska Snapshot also looked at the financial satisfaction through the lens of urban and rural residents, political affiliation, gender and ethnicity.
The Nebraska Annual Social Indicators Survey is used by researchers, state entities and policymakers, but also includes a core questionnaire that delves into demographics, quality of life measures, educational attainment and community satisfaction, among other variables. These core questions will inform most of the Nebraska Snapshot series.
All Nebraska Snapshots are available online. To include research questions on the next NASIS administration, send an email to bosr@unl.edu.
