There are indications that Americans are starting to feel a little bit better about their financial health. As the unemployment rate slows, and as some tentative signs of possible economic recovery show themselves, Americans are starting to feel less pessimistic. The COUNTRY Financial Security Index shares this information about how we feel about our financial health:
Americans’ sentiments suggest the economy may be turning a corner. While 45 percent say their level of financial security is getting worse, this is an improvement from April when nearly half (49 percent) felt this way. In addition, those rating their overall financial security as excellent or good increased two points in June (39 percent), marking the first increase since August 2008.
Of course, there are still a lot of Americans that do not feel good about their financial security. Unemployment is still approaching 10%, even it is approaching it slower than previously. Besides, gas prices may cause those numbers to drift higher. As the most visible reminder of the state of Americans’ finances, gas prices have a huge impact on consumer sentiment and confidence.
In the end, it is hard to feel truly secure in this climate. In these times, the best you can do is go back to financial basics:
- Spend less than you earn.
- Build up some savings.
- Pay down debt as you can.
- Improve your skills so that you are marketable.
How do you feel about your financial security and health?