National Press Release
COUNTRY Financial Security Index: Americans Feel Financial Strain in April
COUNTRY Financial Security Index inches down
Bloomington, Ill., April 17, 2007 – Americans grew more pessimistic about their personal level of financial security in April, as the COUNTRY Financial Security Index slipped 0.8 points to 69.4, down from 70.2 in February. The decline was tied to greater concerns about finances and debt and to a drop in confidence in the ability to protect assets. However, it was somewhat offset by stability around retirement and education savings.
The COUNTRY Index records the perceived financial security of respondents on a scale of 0-100 with 100 indicating the highest level of security, based on random surveys of 3,000 American adults conducted every other month.
Americans' Pocketbooks Tighter in April
- The percentage of people who were able to set aside money for savings or investments in the last few months dropped two points from 56 percent to 54 percent.
- Those who indicated they are not confident in their ability to pay all their debts as they come due increased two points to 18 percent.
Insurance Protection Concerns Grow
- The percentage of people who are confident their family would be able to live comfortably if they died or were disabled dropped two points to 66 percent.
- Those who are confident that their house, car and possessions are adequately insured decreased three points from 84 percent to 81 percent.
“Pressure on energy prices, a volatile stock market and income tax season might have an impact on how Americans are assessing their current financial situation,” says Keith Brannan, director of the Financial Security Office at COUNTRY Insurance & Financial Services. “It is encouraging to note however, that despite short term news, they remain optimistic about their ability to achieve long-term financial goals such as their retirement and education savings.”
Survey highlights:
| Topic | National February 07 |
National April 07 |
Men April 07 |
Women April 07 |
|---|---|---|---|---|
| Rate overall financial security favorably | 51% | 49% | 51% | 48% |
| Set aside money for savings/investments | 56% | 54% | 57% | 53% |
| Unable to pay all debts as they come due | 16% | 18% | 17% | 19% |
| Confident house, car & possessions adequately insured | 84% | 81% | 81% | 82% |
Individuals can learn more and compare their own results with the national COUNTRY Financial Security Index.
The next COUNTRY Financial Security Index will be released on June 19 and subsequently every other month.
The COUNTRY Financial Security Index
The COUNTRY Financial Security Index is a bi-monthly measure of Americans’ sentiments toward their overall financial security. It is an aggregate of various factors comprising financial security including savings and investments, financial planning, retirement, education and asset protection.
The COUNTRY Index was created by COUNTRY Insurance & Financial Services and is compiled by Rasmussen Reports, LLC, an independent research firm, based on a national telephone survey of 3,000 Americans.
The margin of sampling error for a survey based on this many interviews is approximately +/- 3 percentage points with a 95 percent level of confidence.
About COUNTRY
COUNTRY Insurance & Financial Services serves about one million households and businesses throughout the United States. It offers a full range of financial products and services from auto, home and life insurance to retirement planning services, investment management and annuities.
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