African Americans Remain Optimistic About Their Finances

Despite the economic and social challenges, African-Americans remain among the most optimistic consumer groups in the American economy.  African-Americans: Demographic and Consumer Spending Trends, 10th Edition, a recent report by market research firm Packaged Facts, found that nearly half (47%) of African-Americans think they will be better off financially 12 months from now, compared to just 37% of other Americans Affluent blacks hold especially strong convictions about how their financial future will unfold, though the abiding optimism of African-Americans transcends income levels.

The reasons for the steadfast confidence of African-American consumers are many and complex.  To begin, despite the growing chasm between the very rich and the rest of American society, there are strong empirical reasons for African-Americans to believe that upward mobility remains achievable for them.  As hig