Contact Us
Make My Homepage

Consumer Confidence Up, Savings Not [AUDIO]

As the economy improves, a survey finds Americans are feeling better about several key aspects of their finances.

A survey of the Financial Security Index done by Bankrate.com shows respondents’ feelings on debt, job security, net worth and overall financial situations hit a seven-month high.

“Consumers’ feelings on the economy tend to mirror what we see in the economy,” said Gregory McBride, senior financial analyst for Bankrate.com. “When the economy is improving, the job market is improving, people are feeling wealthier and they’re feeling better about their financial security.”

However, the one area in which respondents didn’t feel more confident was personal savings. McBride said savings has been an Achilles heel for consumers, and has been polling negative since 2010.

“That’s a recognition of the fact that consumers know they don’t have nearly enough saved for a rainy day, and perhaps worse, they don’t feel like they’re making any headway in that area,” McBride said.

McBride did point out this was the least negative reading for savings, and he expects it to start turning around once wages start to increase.

“At a point when households see some tangible income growth, that’s when they are in a position to not only ramp up their discretionary spending, but their saving too,” McBride said.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!