smart spending

August 2013 Financial Security Index charts

Bankrate's monthly survey of six questions measures how secure Americans feel about their personal finances compared to 12 months ago. From Aug. 1-4, 2013, telephone interviews (on landlines and cellphones) with 1,005 adults living in the continental U.S. were conducted by Princeton Survey Research Associates International. The results of Bankrate's Financial Security Index have a margin of error of plus or minus 3.7 percentage points. This month, the index declined to 100.5, down 1.5 points since July 2013.

Financial Security IndexBankrate.com

Highlights:

  • 20% of people with no college degree are saving less for retirement this year, compared to 10% of people with a college degree.
  • 17% of people earning less than $30,000 didn't contribute anything in 2013 or 2012, versus just an average 3% of people earning $30,000 or more.
  • 18% of respondents younger than 65 say they're saving less in retirement accounts, while just 7% of those 65 and older say they're doing the same. 
Financial Security IndexBankrate.com

Highlights:

  • More than 1 in 4 men (28%) are feeling more job secure today than they did 12 months ago, compared with fewer than 1 in 5 women (18%). 
  • 17% of respondents earning $75,000 per year or more feel more secure in their jobs compared to 12 months ago, while 27% of those making less than $75,000 feel more job secure.
  • 27% of those with up to a high school education feel less job secure, as opposed to 17% of those with more education.
Financial Security IndexBankrate.com

Highlights:

  • 1 in 5 men (21%) say they feel better about their savings, compared with 1 in 7 women (14%).
  • 28% of people age 18-29 are more comfortable with their savings, versus just 15% of people 30 and older.
  • 42% of people making less than $50,000 are less comfortable about their savings, and the same was true for 25% of those making at least that much.
Financial Security IndexBankrate.com

Highlights:

  • 3 out of 10 suburbanites (30%) say they're more comfortable with their debt, versus fewer than 2 out of 10 urban respondents (18%). 
  • 24% of people younger than 65 feel less comfortable with their debt, compared to 14% of people 65 or older.
  • 34% of people making at least $75,000 are more comfortable with their debt, as are 29% making $30,000-$50,000, and 18% making less than $30,000.
Financial Security IndexBankrate.com

Highlights:

  • 34% of men report more net worth today, versus 23% of women.
  • 27% of Republicans and 25% of Independents say they have a higher net worth, compared to 39% of Democrats.
  • 39% of college grads say their net worth has increased, while just 25% of people without a college degree say that.  
Financial Security IndexBankrate.com

Highlights:

  • 38% of Democrats are doing better today, compared to 23% of Republicans and 26% of Independents. 
  • 35% of parents with kids younger than 18 say their financial situation is better today, versus 26% of people with no kids.   
  • 33% of people in the South and West feel better about their finances, as opposed to 23% of those in the Northeast and Midwest.

Editor's note: Percentages may not equal 100, due to rounding.

Bankrate.comFinancial Security Index
Bankrate's Financial Security Index gauges how Americans feel today versus a year ago on vital financial matters. An index value of less than 100 indicates declining levels of financial security; a value greater than 100 reveals higher levels of security compared to 12 months ago.

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed, 0 point 4.32%  0.06 4.26%
15 year fixed, 0 point 3.36%  0.09 3.27%
5/1 ARM 3.37%  0.10 3.27%
 
View Rates in your area Search
Product Rate Change Last week
30K FICO-based HELOC 4.74%  0.01 4.75%
50K FICO-based HELOC 4.51%  0.01 4.50%
100K FICO-based HELOC 4.24% --0.00 4.24%
 
View Rates in your area Search
Product Rate Change Last week
60 month used car loan 2.86%  0.20 3.06%
48 month used car loan 2.79%  0.40 3.19%
60 month new car loan 2.94%  0.10 2.84%
 
View Rates in your area Search
Product Rate Change Last week
1 Year CD 0.90%  0.02 0.88%
2 Year CD 1.02%  0.01 1.03%
5 Year CD 1.59%  0.01 1.60%
 
View Rates in your area Search
Product Rate Change Last week
Balance Transfer Cards 15.71%  0.01 15.70%
Cash Back Cards 16.36% --0.00 16.36%
Low Interest Cards 10.91% --0.00 10.91%
 
Search
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us