30% of Asian Americans feel highly confident they can maintain household expenses, poll finds
About 40% of Asian American adults also believe the economy will only get worse in the next year, poll finds.
Asian Americans and Pacific Islanders in the United States are somewhat more optimistic than the overall adult population about their personal finances, but recent polling shows the outlook isn’t quite as sunny when it comes to keeping up with household expenses or unexpected medical costs.
A new poll from AAPI Data and The Associated Press-NORC Center for Public Affairs Research finds that 62% of U.S. Asians and Pacific Islanders say their household’s financial situation is good, slightly higher than the 54% of all U.S. adults who said that in an October AP-NORC poll. But only about one-quarter of Asian American and Pacific Islander adults are extremely or very confident they would be able to pay for a sudden medical expense. That is in sync with 26% of U.S. adults overall. Meanwhile, 4 in 10 are “not very” or “not at all” confident.
When it comes to the ability to maintain household expenses, only 3 in 10 AAPI adults are highly confident they can do so. An additional 46% are “somewhat confident” and 23% have “little to no confidence.”
Stan Kilpatrick, a 65-year-old Republican in Altadena, California, runs a limo service. His client base, which includes the University of Southern California, has gone down because more events and meetings with guest speakers and groups are happening virtually. Meanwhile, the cost of auto insurance and fuel continues to rise.
The weight of medical costs is emotional too, Ramakrishnan said.
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