How Donald Trump could impact personal finance

BIRCH RUN, MI - AUGUST 11: Republican presidential candidate Donald Trump speaks at a press conference before delivering the keynote address at the Genesee and Saginaw Republican Party Lincoln Day Event August 11, 2015 in Birch Run, Michigan. This is Trump's first campaign event since his Republican debate last week. (Photo by Bill Pugliano/Getty Images)

By Pattie Lovett-Reid

We are on the cusp of the inauguration of the 45th president of the United States — Donald Trump — and there has been much discussion about how Americans’ lives will be affected by national changes ahead.

I reached out to Experian, a U.S.-based data service provider, who recently asked Americans what they thought the next four years would bring in terms of their personal finances. The level of optimism in the response was high with many Americans confident their personal finances will improve, while some still will want to make some drastic changes to better their situation.

Fifty-one per cent of respondents believe their own financial situation will improve and 37 per cent feel everyone’s general financial status will get better over the next four years. Not surprisingly, the response differed based on political party. Republicans having higher rates of optimism with 70 per cent feeling they will be better off and 77 per cent believing Americans’ financial status will improve.

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