Residents are more secure about personal finances than the previous fiscal year
San Francisco, CA -- (SBWIRE) -- 09/10/2012 -- A survey done recently showed that the financial confidence has climbed up from its July level and has drastically improved when compared with last year’s.
This welcoming optimism is led by young citizens of the country as the survey done by COUNTRY Financial states that the their Security Index stands at 65.9, which is better than their 65.1 in July of 2012 and much improved from its 62.4 in August, 2011.
COUNTRY has noted that the 65.9 reading is the best since August 2008, which is a healthy sign according to rbr.com.
“We are used to a seasonal dip in confidence in June and August, so it’s refreshing to see financial optimism this month,” said Joe Buhrmann, manager of financial security support at COUNTRY Financial. “Americans have made great strides this year, especially in their ability to set aside money. To maintain this positive momentum, remember to plan ahead and set aside savings for any unexpected obstacles that might set you back.”
Men have shown more confidence than women and have been the better gender in terms of saving money. The most confident, in terms of age demographics, were the ages from 18 to 29 year olds. The reported positive financial security of the demographic has improved according to the 49% of the demo, which shows an improvement of six percent over the next best group.
“Younger adults are staying optimistic despite some unsettling economic news recently,” added Buhrmann. “With long-term goals like retirement and college funding further away, they’re making the most of that time by saving early. However, no matter your age, you need a financial plan to reach your goals.”
The percentage which believes that they have the ability to send their children to college has also improved from 54% to 61%. The percentage of people that they have the ability to retire has also improved from 55% to 58%, while 20% believe that their overall financial security is improving in contrast to the 18% of last month.
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