debt

23 percent feel more, less comfy with debt

January 2012 Financial Security Index » Debt

Q:

How do you feel about the amount of debt you have compared to 12 months ago?

Thirty percent of those younger than 30 are less comfortable with their debt today than a year ago. Among those 65 and older, 14 percent are less comfortable.
Thirty percent of those making upwards of $75,000 are more comfortable with their debt, compared to 16 percent of those making less than $30,000.
Roughly 27 percent of college grads and those with some college are more comfortable with debt, compared to 19 percent of those with, at most, a high school diploma.
Jason Whitby

"People are typically anxious about things they don't have control over."

Last year, we spent a lot of time working on cash flow and debt levels with our clients. ... Just by acknowledging and addressing it, people have become more comfortable. People are typically anxious about things they don't have control over, so our clients do seem more comfortable with the debt they have, as many have addressed it. A number of people responding to the survey may just be getting comfortable because they have more control and more knowledge about it.

- Jason Whitby, MBA, CFA, CFP, senior financial adviser with Investor Solutions in Miami

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