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Metro Market: Phoenix
As 2009 draws to a close, Phoenix residents are almost evenly divided on their financial future in 2010, according to a new COUNTRY Financial survey. Thirty-two percent say things will be better, 31 percent say things will be worse, and 32 percent think the status quo will prevail.
Phoenix residents’ mixed emotions come as their confidence in their personal financial security is declining. The COUNTRY Financial Security Index® for Phoenix fell 2.6 points in December to 66.3 as residents grew more pessimistic about nearly all aspects comprising their financial security. In contrast, the national COUNTRY Index remained stable in December, slipping 0.1 point to 66.3.
Polling of Phoenix residents revealed:
- Just 53 percent are confident they will have the financial resources to send their children to college, a 10-point drop since October.
- There was an 11-point dive to 70 percent in those confident they can pay all of their debts as they come due.
- After increasing in October, the number of residents able to set aside money for savings or investments recently fell 4.6 points 48 percent.
- However, the number of residents confident their family would live comfortably if they died or were disabled increased seven points to 67 percent in December.