Bob Dylan once wrote that you don’t need a weatherman to know which way the wind blows.
Still, a new index has just come out to measure how much distress consumers are in. The answer — lots.
The new quarterly survey released today by CredAbility measures a consumer’s job status, ability to pay rent or mortgage, credit worthiness, spending habits and net worth, AJC reporter Dan Chapman writes.
While consumers are saving more money, the one-two punch of unemployment and foreclosure continues to batter the average American household, Chapman reports.
Americans, during the first quarter of 2010, registered a 64.2 score (out of 100). Georgians scored 60.1.
“If you have a 70 or below, you are in trouble, in distress, your situation isn’t stable anymore and you need to take immediate action,” said Mark Cole, CredAbility’s chief operating officer.
How does this new measure square with your situation?
Are you getting deeper into debt or starting to turn things around?
Have you come across an important tip you can share?
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