smart spending

July 2011 FSI

Bankrate Audio » July 2011 FSI

Listen to audio

Editor's note: This is a transcript of the audio file.

Do you track your spending against a budget? recently polled Americans on that very question as part of the monthly Financial Security Index. I'm Kristin Arnold with your Personal Finance Minute.

We’re joined now by Greg McBride, senior financial analyst for Greg, what did Bankrate find out about Americans and their budgeting habits?

"Just 58% of Americans track their spending against a monthly budget and the reason this is important is that budgeting establishes a roadmap towards savings, which most people don't have nearly enough of as we found out last month."

And how are Americans feeling about their overall financial security?

"Jobs and savings are the real sore spots. The feelings about both are at the lowest levels of the year. Job growth is very weak, unemployment is high, incomes are stagnant…you put all that together and it's really taking a toll on American's feelings about their financial security."

To see more of’s Financial Security index, log on to I'm Kristin Arnold.


Show Bankrate's community sharing policy
          Connect with us

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

Partner Center

Connect with us