Finally! A reason to end 2014 on a high note: Consumer confidence just hit a seven-year high, according to the Thomsen Reuters/University of Michigan’s Consumer Sentiment Index.

The index’s final December reading hit 93.6 last week, up from its November reading of 88.8. That’s also its highest level since January of 2007, the American Bankers Association noted.

The index focuses on how consumers view the prospects for their own financial situations, as well as their prospects for the general economy over both the near and the long term. The University of Michigan’s Consumer Survey Center in Ann Arbor conducts at least 500 telephone interviews each month, and each monthly survey contains 50 questions designed to track different consumer expectations and attitudes.