Tags: Bankrate | Feel | Better | americans

Bankrate.com: Only 17% of Americans Feel Better Off This Year

Tuesday, 01 Nov 2011 08:25 AM

Less than 20 percent of Americans — 17 percent to be exact — feel their overall financial situation is better today than it was a year ago, according to a Bankrate.com study.

Bankrate.com's Financial Security Index slumped in October, falling to 92.8 from 93.9 in September, and is now at its second-lowest level of the year. Any reading below 100 indicates feelings of less financial security relative to 12 months ago.

Blame the usual suspects for the blanket of pessimism.
__________________________________________________________

The ‘Unthinkable’ Could Happen — Wall Street Journal
Over one million Americans have heard the evidence for 50% unemployment, 90% stock market crash, and 100% inflation. Be prepared. Watch the Aftershock Survival Summit Now, See the Evidence.

__________________________________________________________

"The weak economy, ailing housing sector and volatile stock market continue to undercut consumers' feelings of financial security," Greg McBride, a senior financial analyst for Bankrate.com, says in a statement.

unclesamtax200gtty.jpg
(Getty Images photo)
"Americans' feelings about their savings, debt and net worth continue to erode."

The survey also finds that 11 percent of Americans are more comfortable with their savings now compared to one year ago, a new low, while 20 percent of Americans are more comfortable with their debt now compared to a year months ago, a figure that has dropped every month since June.

While overall financial security isn't soaring, consumer sentiment may be improving, another study shows.

U.S. consumer sentiment improved in October for the second month in a row, according to a Thomson Reuters/University of Michigan's reading on consumer sentiment.

Don't break out the champagne just yet.

"Overall, it is still likely that real consumer expenditures will not be strong enough during the year ahead to enable the more robust economic growth that is needed to offset the negative grip of income and job stagnation on consumers' spending behavior," says survey director Richard Curtin, according to Reuters.

© 2017 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
StreetTalk
Less than 20 percent of Americans 17 percent to be exact feel their overall financial situation is better today than it was a year ago, according to a Bankrate.com study. Bankrate.com's Financial Security Index slumped in October, falling to 92.8 from 93.9 in...
Bankrate,Feel,Better,americans
1834
2011-25-01
Tuesday, 01 Nov 2011 08:25 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved