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July 2011 savings

July 2011 Financial Security Index » Savings

Q:

How do you feel about the amount of money you have in savings compared to 12 months ago?

Those feeling more comfortable with their savings slipped to 14 percent from 16 percent in June.
The proportion of those less comfortable with their savings swelled 5 percentage points, from 39 percent in June.
Households with incomes of $75,000 and over, at 21 percent, and college grads, at 19 percent, were most likely to feel more comfortable.

Chris Ravsten

"It really isn't getting any better."

Job situations are tenuous, the economy is tenuous, and people are trying to scrape together money for savings and trying to live below their budgets. People can't afford the luxury of spending their money because they don't know how stable their (jobs are). But at the same time, they don't like the returns they're getting on their savings. After taxes and inflation, you're practically paying the bank to hold your money.

- Chris Ravsten, CEO, Foxstone Financial Group, Denver

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Posted: July 25, 2011

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