Many Feel Savings are Insufficient

Bankrate’s January "Financial Security Index" poll finds many Americans feel less comfortable with their finances now than they did 12 months ago.
Twice as many people feel less comfortable about their savings level than those who feel better: 38% versus 19%, the report found. Age appears to impact overall financial security, with one of every three respondents over 50 believing they are worse off while only 15% of people younger than 30 feel that way.  

Only 10% of people between ages 50 and 64 feel more secure about their job while 29% feel less secure since last year.

The survey also found 31% of workers with incomes less than $30,000 feel least comfortable with their debt loads. Those who earn more than $75,000 are not far behind, with 17% feeling less comfortable with their debt.   

The press release said more than three quarters (78%) of respondents spent either less than or nearly equal to what they expected to spend during their holiday shopping.  

Bankrate’s Financial Security Index results are based on telephone interviews with a nationally representative sample of 1,018 adults, ages 18 and older. The interviews were conducted from January 6-9, 2011, by Princeton Survey Research Associates International.  

Full results are here.