As worries of a US recession continue to circulate in media stories, and as the government rushes to find more “fixes” to the problems plaguing the economy, many Americans are starting to worry about their financial security. Here are some of the key findings from the Country Financial Security Index about how Americans rate their financial security:
- 52 percent of Americans rate their level of financial security as fair or poor.
- 20 percent of Americans are afraid that they may not be able to make all their debt payments as they come due.
If you are in a position where your financial security is in doubt, now is the time to sit down and honestly evaluate your finances. Figure out a budget, and try to do you best to cut expenses and make your payments. In some cases, it might be a good idea to consult with a fee-based financial planner in order to help you get everything organized and to make a reasonable plan for increasing your financial security.