Americans feeling less financially secure

Americans are feeling less financially secure now than at any other time this year.

A new survey done for Bankrate.com shows that people feel worse about their job security, savings, debt and overall financial situation, although they feel a little bit better about their net worth.

“The disappointing August jobs report took a toll on Americans’ feelings of financial security,” said Greg McBride, Bankrate.com senior financial analyst. “Those age 50-64 are still more likely than other age groups to say they feel less secure in their jobs now than one year ago and that their overall financial situation has deteriorated in the past 12 months.”

What Bankrate.com calls its Financial Security Index stands at its lowest point since December 2011.

Some of the details of the survey:

– 19 percent of respondents said they feel less secure today than they did one year ago about their jobs, while 17 percent said they felt more secure. Most of the rest said they felt the same.

– 38 percent feel less comfortable with the amount of money they have in savings now compared to what they had a year ago, while only 16 percent said they’re more comfortable.

– 25 percent are less comfortable with the amount of debt they have now compared to a year ago, while 20 percent are more comfortable.

– 25 percent said their net worth (total assets including any real estate equity, minus debts) is higher today, while 23 percent said it’s lower than it was a year ago.

– 29 percent said their overall financial situation is worse today than what it was a year ago, while 22 percent said it’s better.

23 comments Add your comment

Truth

September 19th, 2012
10:16 am

Well, yeah. Everyone is gunshy, and for good reason.

The only places to make any money are he places where you can easily lose it.

The best place for anyone who can’t wait for long term returns is in a cash account.

Most people are paycheck to paycheck now anyways and don’t have money to invest beyond a 401(k)

"J"

September 19th, 2012
11:39 am

Not too mention 401-K savings have flat lined in the last ten years. Ironically, fund managers continue to make the big bucks (bonus & salary) while accomplishing nothing for the “actual” shareholders? SMH

Barry Obama

September 19th, 2012
12:47 pm

I just need another 4 years to clean up Bush’s mess !

Forward !

what ??

September 19th, 2012
2:09 pm

Hey Barry Obama,

Why do you not tell everyone how QE-Forever is going to improve things for the people of this country ? Why not tell them, that is going to create hyper-inflation in prices, at the same time their pay is going to be flat.. Yeah, like we can really afford another 4 years of your nonsense.

CNBC

September 19th, 2012
2:26 pm

I don’t get it.. why does Obama continue to lead in the polls ??? when Unemployment is up, not counting all who have dropped out of the job market and given up… Disability claims and food stamps are WAY up too !!

Destin Dawg

September 19th, 2012
2:32 pm

Romney/Ryan campaign needs to address JOBS.. JOBS… JOBS…specifics please.. it’s not too late.. Obama’s anti business, pro Labor Union policies can not possibly create new jobs !!

JCJenny

September 19th, 2012
3:01 pm

Since we live within our means, have no debt (other than the mortgage), max out savings, we still feel insecure about what the future of our country is going to be AND since the bank isn’t giving us any return on our money and if they did, the DEMOCRATS want us to pay income tax on the interest we earn! SO I think I’ll STASH CASH in the mattress!

Barry Obama

September 19th, 2012
3:03 pm

Since my inauguration in January 2009:

Unemployment: UP !

Gas prices : UP !

Groceries : UP !

Bankruptcies: UP !

Foreclosures: UP !

American deaths in Afghanistan since Bush left office: UP !

American anxiety: UP !

My popularity: UP !

Thank you to CNN, MSNBC, CBS, NBC, ABC & the AJC for effectively making me look good on camera and making Mitt Romney look like an arrogant, condescending , insensitive twit before the brain-dead masses better known as the American electorate !

Alihu, Akbar !

Destin Dawg

September 19th, 2012
3:08 pm

Barry Obama…. by the way FOX and CNBC have way more viewers than all of CNN, MSNBC, CBS, ABC, NBC, and AJC combined… because of the liberal views of main stream media..

Native Atlantan

September 19th, 2012
3:29 pm

From my perspective, I’m better off that when Bush was in office. My financial portfolio has FINALLY recovered the losses experienced while he was in office. I’ve seen steady increases in my salary. My home value has dropped, but I understand that issue and am not too concerned. In aggregate, my taxes have dropped, but I’d willingly pay more in taxes to support deficit reduction. However, I’m not a 47%’er or a 1%’er and the fact I pay the maximum percentage in federal taxes is obscene compared to what Mr. Romney paid — percentage wise, which is what matters. I leveraged every deduction available to me and still pay the top rate. So, I’m paying my fair share — is Mr. Romney?

Old Hippy Tea Partier

September 19th, 2012
3:48 pm

its not just about tax RATES.. Romney is not my favorite person BUT lets be fair… he paid over $ 3 million in taxes and donated about the same to charity…. most of us paied $15 K to $20 K in taxes.. and maybe a couple grand to charity.. Dems talk all this class warfare.. hey the Kennedy’s we’re wealty.. Kerry married the Heinz fortune.. Johson was a texas oilman.. watching too much MSNBC ?? Clinton’s now have Million$ !!

Old Hippy Tea Partier

September 19th, 2012
3:49 pm

lots of wealthy demos

Truth-o-meter

September 19th, 2012
3:54 pm

FDR: millionaire
JFK: millionaire
LBJ: millionaire
Carter: millionaire
Gore: millionaire + (Occidental petroleum)
Kerry: Heinz fortune
Kennedy’s: millionaires
Edwards: millionaire

Having money and being successful isn’t exclusive to Republicans ! Eisenhower, Nixon & Ford were not wealthy people; neither are Dole & McCain in recent years.

Native Atlantan

September 19th, 2012
4:33 pm

It absolutely is about the percentages……33% of my taxable income means as much to me as 33% of Mitt’s taxable income. Forget the dollars….that’s just a smokescreen to make us feel sorry that more dollars are flying out of the 1%’ers pockets. I’m not jealous of the “rich”, in fact, based on Mitt’s categorization I am “rich”. I just happen to fall right in the middle of the bell curve when you look at tax RATES invoked by taxable income level. Unfortunately, it’s all legal…the tax code is what it is but if Mitt is only paying 13%…..he’s NOT paying his fair share, even if it is legal.

Barry Obama

September 19th, 2012
4:46 pm

In my estimation anyone that still has a job is “rich”.

Destin Dawg

September 19th, 2012
4:47 pm

Native…. ” Tax code is what it is ” hey then you should be with US for tax reform.. flat tax, simplified return.. less IRS. paper work.. fewer accountants etc…

Uncle Sam

September 19th, 2012
5:02 pm

EVERYBODY should pay some tax for the privilige of living here and the opportunities that abound.

Exempting segments of the population from taxation to garner votes is a problem that needs to be dealth with immediately. Many tax breaks & exemptions need to be re-examined.

EVERYBODY should be vested in this country.

Hope & Change

September 19th, 2012
6:11 pm

Nearly 6 million Americans — most of them in the middle class — will face a tax penalty for not carrying medical coverage once President Barack Obama’s health care overhaul law is fully in place, congressional budget analysts said Wednesday

@ Hope & Change

September 19th, 2012
6:33 pm

If they’re middle class, they should already have health insurance, instead of racking up medical bills they can’t afford out of pocket and boosting my premiums. It’s time for the freeloaders to pay up.

Destin Dawg

September 19th, 2012
6:42 pm

Hope and no change left…. Obama care raises taxes, fees on the middle class and most of it takes effect AFTER the election.. I’m 67 and finacially secure.. so you libs can drink the koolaid and re elect Obama if you want… Stock Market is WAY UP .. rich are getting richer under Obama

Barry Obama

September 19th, 2012
7:04 pm

Destin Dawg,

You are absolutely correct!

As long as the rich get richer and more poor are created with my economic strategy, that should provide more class warfare and an endless pool of voters for the Democrat Party.

Poor people. You gotta love them !

Adam Smith

September 19th, 2012
9:56 pm

The Dems want the poor, and more of them. It gives them a permanent and growing powerbase.

clewis564

September 19th, 2012
11:35 pm

Who is it that gets to decide what one’s “fair share” is? We have a president NOT a king or dictator. He doesn’t get to tell us what to do and take our money cause he “knows better than us”. That’s not his job or right. Also how they force peopple with penalties to do what they want. We have tax laws already and Mitt paid his taxes. many democrats in congress right now have NOT. It’s not his fault his dad left him investments to live off of which are taxed at lower rates than other things. It’s a slippery slope giving anyone the power to govern and force people to do things cause “they know better”. That why we have a constitution to protect the people from the gov’t that they used to have to follow.