Financial outlook 2025: how Democrats and Republicans view their economic future post-election

After Donald Trump’s recent election victory, Americans’ economic outlook varies somewhat according to which side of the aisle they find themselves. Despite similar income levels, Democrats and Republicans report different views on their financial situations and reflect broader concerns about the country’s direction.

Democrats have a more positive outlook on 2024

At the end of 2024, we asked 1200 Americans how different aspects of their year went, how it compared to 2023 and what they see coming down the road in 2025.

When it comes to their personal financial situation, Americans were more positive than negative about 2024 and optimistic about the year to come.

In the context of Donald Trump’s recent election win, however, there are significant differences between Democrats and Republicans. Democrats were generally more upbeat about their financial conditions than Republicans. Data shows 44% of Democrats rated their financial situation as good, compared to just 29% of Republicans.

This sharp difference in financial perception came despite the fact that the incomes of Democrats and Republicans show no statistically significant difference. This suggests that political affiliation may affect people’s perceptions of financial well-being independently of income.

The year-over-year comparison of financial situations further highlights this divide. Democrats were more likely to report improvements in their financial situation in 2024 compared to 2023, with 38% feeling better off. In contrast, only 28% of Republicans felt their financial situation had improved over the same period. In 2024, things felt better for Democrats than they did for Republicans.

The future looks rosier for Republicans

However, with the election of Donald Trump, the winds of good fortune appear to have shifted. More Republicans than Democrats have a positive outlook on 2025, with 55% predicting a financial improvement, compared to 46% of Democrats. Democrats, by contrast, are more likely to anticipate a downturn, with 21% predicting their financial situation will worsen, compared to just 14% of Republicans. Nevertheless, members of the public on both sides of the aisle are more likely to be optimistic about their fortunes than pessimistic.

Of course, perceptions of personal financial wellbeing are formed in the context of broader sentiments about the state of the country and the world. Here the divide between the parties is even sharper.  When asked whether the general situation of the US (not just financial) would improve or worsen in the coming year, 65% of Republicans said things would get better compared to only 28% of Democrats. Most Democrats (52%) believe that country’s situation will worsen, whereas only 15% of Republicans share this pessimism. At the global level, 53% of Republicans predict an improvement in the “general situation of the world” compared with only 21% of Democrats.

As supporters of both parties prepare for the year ahead, their differing outlooks underscore the impact of political affiliation on economic sentiment. The coming year will test whether these expectations align with economic realities, as Americans navigate their financial futures under a new administration.

YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. This study was conducted online on December 5-6, 2024, with a nationally representative sample of 1214 adults (aged 18+ years) in the US, using a questionnaire designed by YouGov. Data figures have been weighted by age, race, gender, education, and region to be representative of all adults in the US (18 years or older), and reflect the latest population estimates from the Census Bureau’s American Community Survey. Learn more about YouGov Surveys: Serviced.