Americans today are more secure with their debt levels and net worth, but fear job losses and escalating gas prices, according to Bankrate.
The company released its Financial Security Index, which measures Americans’ attitudes about their own financial situations. The index hit 99.9, its highest score since reaching 98.5 in May 2011.
About 29% of those interviewed by Bankrate said their overall financial situation is better today when compared to 26% a year ago.
Still, 22% of those surveyed said they have less job security compared to 20% a year ago.
“Overall, there are several positives that can be taken from this month’s report,” said Greg McBride, Bankrate’s senior financial analyst.
“Americans are feeling better about the money they have in the bank and in their investment portfolios, and they’re also feeling better about what they owe. However, job security is still a pain point, and there are plenty of reasons to worry that we might be headed into a third straight weak summer for the economy. The trouble spots include jobs, high gas prices, the ongoing European debt crisis and more.”
Americans are more comfortable with their debt levels today than they were in June of 2011, although households with $50,000 or more in income are reportedly feeling more comfortable than other groups. Those under 30 are more comfortable with their savings, compared to those age 50 and up.
kpanchuk@housingwire.com
