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Survey: less than 50% of respondents view themselves as ‘financially secure’

Opendoor’s Financial Wellness Study interviewed over 2,000 respondents to gauge their financial burdens and goals. An overwhelming majority of them listed buying a home as a top stressor.

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Jena Greene

9/26/2022 · 2 min read

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Key Points 

  • 46% of respondents feel financially secure.

  • 75% of respondents say having more money in the bank would help to mitigate their financial stresses.

  • 56% of respondents spend 30 minutes or more every day thinking about their finances.

If you’ve found yourself thinking about your finances more than usual recently, you’re not alone. Housing and stock markets have been anything but predictable, and recent increases in interest rates can make life feel a little more expensive. 

Opendoor’s first-ever Financial Wellness Study aims to shed some light on just how much of a pinch folks are feeling in their pockets.  

Of the prospective and current homeowners surveyed, Opendoor found that 46% of respondents feel secure about their current financial situation. This comes following news of inflation hitting 4 decade highs. 

What’s causing financial stress?

Understandably, 2022’s gloomy market performance has many people thinking about their own wallets. 

Opendoor asked folks what might make them feel more secure about their finances. If winning the lottery wasn’t on the table, the two most popular responses were: 

  • 75%: more money in the bank

  • 70%: a bigger paycheck

When respondents were asked to list their most stressful financial burdens, the top three answers were: 

  • 81%: buying a home

  • 77%: saving for retirement

  • 46%: saving for a child’s education

Stress and major milestones | Opendoor Financial Wellness Study

It may come as no surprise, then, that 56% of respondents say they spend at least 30 minutes every day thinking about their finances. 

This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice. Opendoor always encourages you to reach out to an advisor regarding your own situation.

JG

Jena GreeneAuthor

Jena Greene is the Managing Editor at Opendoor. She covers real estate, personal finance, money management, and market best practices. Jena is passionate about empowering people to find their dream homes and making the home-buying process a delightful one.

JG

Jena GreeneEditor

Jena Greene is the Managing Editor at Opendoor. She covers real estate, personal finance, money management, and market best practices. Jena is passionate about empowering people to find their dream homes and making the home-buying process a delightful one.