Are We Financially Stressed?

ARE WE FINANCIALLY STRESSED? Whether you pick up a paper, scroll through your Twitter feed or listen in on a conversation at the local grocery store, you will likely find that economic uncertainty is churning all around us. Americans may have breathed a collective sigh of relief after the last recession, but recent economic upheaval has many facing tough financial challenges. Money woes are back with a vengeance, and financial insecurity has also returned. Take a look below at the hurdles Americans report they are facing. ON SHAKY GROUND Those with higher incomes are also feeling the economic pinch. 39% of adults with a household income of more than $75,000 45 percent of adults admit feeling less financially secure than a year ago. 16 percent of adults say they worry about money constantly. per year say they feel less financially secure than last year. CONTRIBUTING FACTORS It appears a variety of challenges are keeping Americans awake at night. 59% 40% 35% 32% Live paycheck to paycheck Unexpected Student loan and car Inability to keep up with bills expenses payment debt 26% 21% 16% Credit card debt Stock market uncertainty Mortgage debt FOR A RAINY DAY Nothing increases financial security like stored away cash, but it seems many Americans are unable to properly save for their future. $400 $O $100 Only 19 percent of U.S. adults report they 47 percent admit their earnings go toward savings. Only 11 percent are able to put in $100 or less. none put $400 or more in savings each month. Adults earning $75,000 or more a year are also having trouble saving. 29 percent admit their earnings are not put away. TAPPING INTO RESOURCES As times get increasingly tough, some U.S. adults are forced to dig into their life savings to get by, including their 401k accounts. 12% 15% have taken money out of their 401k in the last year. have reduced their monthly contributions to their retirement plan. HIGH PRICES Adding to the challenges for Americans are the price increases of basic expenses. Here is a look at expenses most U.S. adults find to be overpriced. 80% 70% 63% 59% Gas Medical care Entertainment (cable, Food movies, etc.) 58% 58% 41% 37% Utilities Communication Education Housing (telephone, cell phone, etc.) ON THE BRIGHT SIDE 83 percent of U.S. adults say they are living within their means. Despite numerous money issues, the majority of U.S. adults feel they live within their means, while weathering the fallout. All data is from an online nationwide survey of 2,210 U.S. adults, collected by Harris Interactive on behalf of CouponCabin.com SOURCE: CouponCabin.com COUPON CABIN.COM