National Press Release
Americans Split Over Finances in 2010
COUNTRY Index shows mixed emotions about money matters
Bloomington, Ill., December 15, 2009 – As 2009 draws to a close, Americans are almost evenly divided on their future financial predictions for 2010, according to a survey conducted in connection with this month's COUNTRY Financial Security Index®. Twenty-nine percent say things will be better, 28 percent say things will be worse and 32 percent think the status quo will prevail.
The mixed feelings about the future come at a time when Americans' current sentiments are leveling off. The COUNTRY Index remained essentially unchanged at 66.3 versus 66.4 in October. An increase in the number of Americans able to save and those rating their financial security positively offset declining confidence about sending children to college.
"With the past few months of mixed economic signals, most Americans are still uncertain about their financial future," says Keith Brannan, vice president of Financial Security Planning for COUNTRY Financial. "However, many people have adopted smart ways of dealing with the financial uncertainty, like paying down debt and saving money. These smart choices, along with reviewing and updating their financial plans, can help Americans achieve financial security."
Americans boost savings; optimism at year end
- In December, half (50 percent) of Americans were able to set aside money for savings or investments, a three-point increase since October and the largest percentage this year. This also marks the first time in one year that the number of Americans able set aside money is higher than those unable to do so.
- Forty-four percent currently rate their overall level of financial security as excellent or good, up three points from October, making it the largest percentage since December 2008.
- Of those who expect to receive a year-end bonus (23 percent), 47 percent plan to spend that money on paying off debts and 28 percent plan to put it toward savings.
Other financial concerns weigh on Americans
- Just 58 percent are confident they will have the financial resources to send their children to college, a seven-point drop since October.
- There was a two-point decline to 60 percent in the number of Americans confident their family would live comfortably if they died or were disabled.
2009 COUNTRY Index in Review
- 2009 Index Average: 65.1 (compared to 68.6 in 2008)
- 2009 Index High: October (66.4)
- 2009 Index Low: August (62.8)
In 2009, the COUNTRY Index saw its lowest readings on record since the bi-monthly measure began in February 2007. Confidence in the ability to send children to college and set money aside for savings and investments fluctuated the most throughout the year, while the ability to pay debts and protect assets were the most stable measures.
Survey highlights
| Topic | October 09 | December 09 | December 08 |
|---|---|---|---|
| COUNTRY Financial Security Index | 66.4 | 66.3 | 67.3 |
| Able to set aside money for savings or investments | 47% | 50% | 51% |
| Rate financial security as excellent or good | 41% | 44% | 44% |
| Confident will be able to send children to college | 66% | 58% | 62% |
Full data is available at www.countryfinancialsecurityindex.com.
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 February 16, 2010 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 Financial and is compiled by Rasmussen Reports, LLC, an independent research firm, based on a national telephone survey of at least 3,000 Americans.
The margin of sampling error for a survey based on this many interviews is approximately +/- 2 percentage points with a 95 percent level of confidence.
About COUNTRYCOUNTRY Financial 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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