Here's Why 7 Out Of 10 People Think They'll Be Better Off Financially Next Year

More people are feeling optimistic about their own finances, according to Gallup.

In a recent poll, nearly 7 out of 10 participants said they expected to be "better off" financially by this time next year. The company surveyed 1,017 U.S. adults by phone in January.

This level of optimism hasn't been seen in 16 years, according to Gallup. Half of respondents say they are in better financial shape than a year ago.

This is the first time since 2007 that at least half of the public has reported a generally positive state of current finances, according to the analytics company.

Lydia Saad, director of U.S. Social Research for Gallup, said Americans' financial confidence follows national economic conditions — good GDP growth, and low unemployment and inflation.

"The stock market could be a factor for some percentage of the those Americans who are invested in the market (a little over half the public)," Saad said in an email.

The relatively positive state of things likely is driving that confidence, she said.

Only 26 percent of Americans reported being "worse off" this year than in the past year.