Financial Security Declines in America
Bankrate.com (NYSE: RATE) is out with a report showing a significant drop in financial security of Americans. Unfortunately, this drop is the largest in 11 months. To make matters worse, the drop was in all components of the index: job…
The report shows that 28% of Americans believe that their overall financial situation is lower now than one year ago, and only 23% of Americans now feel better about their overall financial situation.
Another big drop was that 39% of Americans are now less comfortable with their savings compared to last year, with only 16% saying they feel better about their savings.
Only 60% of Americans now track their monthly spending against a budget, versus 58% a year ago. If the government cannot adhere to a budget, can they expect the public to do so?
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
