Fewer Americans Worry About Financial Situation, Poll Finds

Consumer Confidence Improves in U.S.

While any economic climate can foster concerns about your personal finance situation, overall money worries appear to be declining notably among residents across the country. Many Americans are not as worried about their personal finances now than they were since the recession, according to a poll conducted by Gallup. This found that 53 percent of consumers are concerned about their money and worry about their financial situation, which was nearly 10 percentage points lower than last year.

The last time figures dropped this low was in 2007, when 45 percent of consumers explained they were very worried about their finances, the report noted. When considering different aspects of financial worry, the most significant issue that plagued the minds of consumers was having too little money for retirement, as six in 10 reported this concern. Another major issue that was prevalent was not having money saved in order to cover some sort of major medical expense.

Less Worry about Financial Situation

Worrying about your financial situation and sustaining a person’s current lifestyle was the third-most prevalent concern, though the figure was nearly evenly split from those who were very worried and those who didn’t prioritize this situation, the report said.

Despite these main concerns, there was less of a worry about everyday expenses, which may further signal that many financial situations are improving. Fewer than one-fifth of consumers noted they are worried about their credit card payments, while only about one-third said they are really concerned about keeping up with housing fees. Monthly bills also were not a significant concern, as nearly 60 percent felt this was not a big issue.

While some consumers are getting their finances in order, others may still be experiencing some struggles. If an unexpected bill comes along, it could be an issue to pay it off on time. However, if savings isn’t available, it may not be a bad choice to look at getting cash for structured settlement payments.  How to sell your structured settlement to get the best rate and possibly get settlement cash today instead of waiting until tomorrow.

Unemployment Rate Continues Gradual Decline

Further proof of many consumers’ improving financial situations may be in the continually falling unemployment rate, which may lead to less worry about financial situation in many households. According to a report from the Department of Labor, the rate dropped to 7.5 percent during April. This was slightly lower than March’s 7.6 percent, as well as well below the 8.1 percent recorded in April of last year. This also fell notably from its peak in October 2009, when it was 10 percent. If you or your independent advisor have any questions about how you can get cash for your structured settlement, please call us at 877-894-4541.