A Mostly Optimistic Outlook


NUMEROLOGY

majority of U.S. consumers think things are looking up for 2006. The Experian-Gallup Personal Credit Index says fully 68% are optimistic about their financial situation this year, including 30% who are “very” optimistic.

Americans have a variety of reasons for thinking 2006 will be a good year:

57% of those who are employed expect to earn more money in 2006 than they did in 2005. Only 6% expect a decline in pay.

30% of workers anticipate a promotion in the coming year.

50% of consumers plan to make home improvements in 2006.

38% anticipate paying off their debt.

36% hope to earn a higher credit score.

21% plan to buy a new car.

19% will go back to school.

But all of the news isn’t good. Some 14% of consumers who have a credit card pay only the minimum amount each month, up from 7% last year. And 26% say they are uncomfortable with their current debt level, which averages $4,072.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.