Frost Bank to Opt for Optimism

A survey released today by San Antonio based Frost Bank shows optimism is a key ingredient in financial success, News Radio 1200 WOAI reports.

"While financial pressures are affecting most of us, optimism is that powerful tool that we found is connected to having more financial well-being," Frost Bank Senior Vice Presdient Ericka Pullin said.

The study showed that 90% of optimists have saved for a major purchase, compared to 70% of pessimists; 75% of optimists have gotten creative with ways to save money, compared to 60% of pessimists; and 61% of optimists have started an emergency fund, compared to just 43% of pessimists, which is interesting, because you would think a pessimist would be more likely to feel that an emergency fund will be necessary.

"In fact, optimists, are seven times more likely to experience more financial health than pessimists," she said.

Michelle Gielan, who is the founder of the the Institute for Applied Positive Research, which conducted the study for Frost, says in this case, an 'optimist' is not a person who ignores or is 'Pollyannish' about significant financial challenges, but is a person who takes charge of them and uses those challenges as a learning experience.

She also says optimists are less likely to see financial challenges as events they cannot control and cannot learn from.

"Taking a realistic assessment of the present moment, while maintaining a belief that our behavior matters, especially in the face of challenges," she said.

Frost Bank is actually beginning a major effort called Opt for Optimism 'in response to the rising uncertainty, isolation, and stress levels Americans are experiencing."

We found that optimists in our survey experience an average of 145 less days of financial stress on average per year than pessimists," Gielan said.

The web site: will help people learn how to be more optimism about their money, and sign up for the thirty day Optimism Challenge to increase optimism and help improve financial health.

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