It’s no secret the US economy isn’t doing well. So it should come as no surprise that people’s confidence in their own finances is not strong.
According to an LA Times/Bloomberg poll, for the first time since 1993, less than 60% of people believe their finances are either very or fairly secure. Even 26% of those making between $60,000 and $100,000 a year were not confindent in their financial well-being. 10% of those making six figures or more had money worries.
American’s increasing appetite for debt is also part of what’s causing the anxiety. Two out of five who said they had credit card debt said that it was worse than it was 5 years ago. 22% said it was “much worse”. Add to the debt the fact that many of the least financially secure people are in danger of losing their best asset, their home, and polls like these continue to paint a grim picture.