Metro Market: Chicago

As 2009 draws to a close, Chicagoans are cautiously optimistic their finances will not falter further in the New Year, according to a COUNTRY Financial survey. Forty-two percent think 2010 will be about the same for them financially as 2009 and 25 percent think their money matters will get better. Twenty percent expect the New Year to be worse for them financially.

Chicagoans’ predictions come as their financial security sentiments make modest improvements. The COUNTRY Financial Security Index^® for Chicago inched-up 0.6 points to 66.3 in December. Increased confidence in the ability to save and pay debts offset a drop in confidence about college funding. The national COUNTRY Index remained stable in December, slipping only 0.1 point to 66.3.

Polling of Chicago residents revealed:

Forty-seven percent were able to set aside money for savings or investments in December, up two points since October. Despite the increase, fewer Chicagoans are able to save than Americans nationally (50 percent).
More than three-quarter (77 percent) are confident they can pay all their debts as they come due, a four-point increase from October.
There was a ten-point jump to 66 percent in the number of residents confident their family would live comfortably if they died or were disabled.
Just 62 percent are confident they will have the financial resources needed to send their children to college compared to 68 percent who felt this way in October.

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