News & Resources

Personal financial security sentiments improve in October

Nov 04, 2011 Philip Burgess

Americans are increasingly confident in their personal finances, despite mounting economic uncertainty, high consumer debt and widespread unemployment, according to the most recent COUNTRY Financial Security Index. According to the report, the index grew 0.8 points between August and October to reach 63.2. The uptick was driven by improved sentiment in nearly all aspect of financial security. Americans' rating their overall financial security as either excellent or good, for example, climbed 2 percentage points to reach 36 percent. Another 44 percent of respondents reported they are more able to set aside money for savings and investments, up from 42 percent in August. "Whether you seek the advice of a professional or educate yourself, knowing how to allocate your finances can help you endure economic turbulence," said Keith Brannan, vice president of financial security planning at COUNTRY. "With the expensive season of summer in the past, October has traditionally been a slightly optimistic month. Especially during economic volatility, it's comforting to see this trend continue." However, Generation-Y respondents - Americans aged 18-29 - expressed increasing pessimism in their financial circumstances, even as Gen-X members showed gains.