Americans' Financial Security Falls to Lowest Point in Nine Months

Press release from the issuing company

Thursday, September 20th, 2012

The Bankrate.com Financial Security Index fell to a 2012 low in September. Four of the five categories dropped over the past month (job security, savings, debt and overall financial situation) and the net worth reading held steady.

In the past 12 months, net worth is the only component of financial security that has improved. Americans' comfort level with their debt turned negative in September for the first time since March.

"The disappointing August jobs report took a toll on Americans' feelings of financial security," said Greg McBride, CFA, Bankrate.com's senior financial analyst. "Those ages 50-64 are still more likely than other age groups to say they feel less secure in their jobs now than one year ago and that their overall financial situation has deteriorated in the past 12 months."

September's overall Financial Security Index score (96.6) is the lowest since the 95.8 that was measured in Dec. 2011. Readings lower than 100 indicate that Americans have less financial security than 12 months previous. The index has been below 100 in 20 of the 22 months since its inception in Dec. 2010.

The new survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here: http://www.bankrate.com/finance/consumer-index/financial-security-charts-0912.aspx.