At the end of last year, Americans said they were feeling more secure about their financial situation than they had in months — especially those under 30 and those who were more affluent.
Bankrate.com’s Financial Security Index for December jumped to 95.8, the highest since June’s 97.8.
Improvement was seen in every component of the index (job security, savings, debt, net worth and overall financial situation), but the biggest improvement was in job security, Bankrate said. Those who reported feeling less secure than a year earlier fell to 18 percent in December, from 28 percent in November. Meanwhile, 64 percent said they felt the same level of job security, which is the highest recorded since the polling began in December 2010.
The survey by Princeton Survey Research Associates International was done by telephone Dec. 1 to 4 with 1,008 adults. The margin of sampling error is 4 percentage points.
Still, even with the December improvement, the index is below 100, which indicates people are feeling less financially secure than a year ago. In short, 2011 “was not a year of progress” in terms of consumers’ financial security, Greg McBride, Bankrate.com’s senior financial analyst, said in a statement.
Those under age 30 feel more secure than people in other age groups, while those aged 50 to 64, as well as retirees, feel less secure.
How financially secure are you feeling?
Article source: http://feeds.nytimes.com/click.phdo?i=8ac5bdb813a158cc0105f0c4762d3841
Speak Your Mind
You must be logged in to post a comment.