Who Says the Worst Is Over? Financial Security Index Dips Again

Financial Security Index Dips AgainA new poll from Bankrate.com shows that only 17% of Americans feel better off financially than they were a year ago.

Bankrate.com's monthly Financial Security Index fell from 93.9 to 92.8 in October, its second lowest level this year. According to Bankrate.com, anything below 100 is a clue that in general, people are feeling less financially secure compared to 12 months ago.

"The weak economy, ailing housing sector and volatile stock market continue to undercut consumers' feelings of financial security," said Greg McBride, CFA, senior financial analyst for Bankrate.com, in a prepared statement. "Americans' feelings about their savings, debt and net worth continue to erode."

How does your financial situation compare to a year ago
I am doing better.\r\n234 (10.3%)
I am about the same.786 (34.8%)
I am starting to struggle.594 (26.3%)
I am much worse.509 (22.5%)
I am thinking about bankruptcy.138 (6.1%)

Just how low folks are feeling? Only 11% of Americans said they were more comfortable with their savings now that a year ago, which was a new low. And when it comes to debt, only 20% said they were more comfortable than they were 12 months ago. That percentage has dropped monthly since June.

Meanwhile, 19% said their net worth was higher than this time last year, compared to some 30% who said their net worth had dipped.

Seniors are the group that's most earnestly crying the blues: 34% of those ages 50-64 surveyed, said they feel less secure in their jobs; 56% said they feel less comfortable with their savings, and only 5% are more comfortable. Nearly 40% of retirees say their overall financial situation is worse than a year ago, and a mere 7% are feeling things are better.





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Baby

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January 03 2012 at 10:31 PM Report abuse rate up rate down Reply
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December 30 2011 at 12:05 AM Report abuse rate up rate down Reply
hotelescusco7

YOU MUST BE TALKING ABOUT ALL THE CORPORATE WELFARE THE 1% GETS FROM THE GOP.

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November 12 2011 at 2:53 PM Report abuse rate up rate down Reply
savemycountry911

America says Obama is on the wrong track.

I hear that lib train comin. It's rollin round the bend.
I ain't seen so much stupid since I don't know when.
Obama's stuck on Socialism and the waste goes on.
We'll oust him next November and we'll send him home.
Now that hope and change fiasco, it was just a lie.
When libs find out he's leavin, they'll hang their heads and cry.

Tissue?

November 03 2011 at 2:39 PM Report abuse +1 rate up rate down Reply
mhfgjnm

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November 03 2011 at 10:47 AM Report abuse +1 rate up rate down Reply
dabrownman

The reason people feel worse off isbecause the Democrats who took over the economy of the country in November 2006, when they won the house and senate, have just destroyed it like socialists always do. Just look at what has happened since then. By mid 2007 the entire world knew these wealth redistribution were going to do everything they could to destroy any prosperity that anyone could possibly have or aspire to. After Obama was elected in November 2008 the destruction mode of the left went into overdrive wit the presidential veto off the table.

When you look at Obama and his socialsit cronies all you see is Jimmy Carter and his whack job henchmen that destroyed the country the last time they had any political power.

November 02 2011 at 12:48 PM Report abuse rate up rate down Reply
Setanta

some occupyer supporter CLAIMS he runs a law firm---yeah---the administrative asst ? used to be called a secretary.
now claims they have an agenda........yeah,destroy society.

November 02 2011 at 11:47 AM Report abuse rate up rate down Reply
stuart100s

Class warfare will solve our country's problem! What?........hasn't worked so far, ..........never mind.

November 02 2011 at 10:46 AM Report abuse +1 rate up rate down Reply
1 reply to stuart100s's comment
Setanta

little ows_ees will be suprised when the people VOTE and flush to toilet again as in 2010.
bunch of parasites--EXACTLY--mess up everywhere THEY go......live far away from the MESS the CREATE etc.

November 02 2011 at 11:45 AM Report abuse rate up rate down Reply
Iselin007

The workforce should of been close to 175,000,000 not 154 million +

November 02 2011 at 10:25 AM Report abuse rate up rate down Reply
Iselin007

Where are all the missing unemployed that dropped off the counts since 2007 if their not working they should be counted an that's another reason for Occupy!

We will be counted!

November 02 2011 at 10:22 AM Report abuse rate up rate down Reply
1 reply to Iselin007's comment
Setanta

yeah ! go and occupy A JOB.

November 02 2011 at 11:49 AM Report abuse rate up rate down Reply