A new study released by Bankrate, Inc. shows that even though many Americans feel less comfortable with their financial security now than they did 12 months ago, the majority has not implemented a budget for the holiday season.

Among the findings:

- Two-thirds, or 66 percent, of Americans have no holiday budget.

- Forty-three percent of families earning $75,000 or more per year have a holiday budget, compared to 24 percent who earn less than $30,000 per year.

- Despite gradual economic recovery, only 14 percent of Americans are more comfortable with their savings now than 12 months ago; whereas, 44 percent are less comfortable and 39 percent feel the same.

- Nearly one-third of Americans, 32 percent, feel that their overall finances have declined compared to last year. Age significantly impacts financial security with 40 percent of people between 50-64 believing that their finances are deteriorating.

"Given the significant amount of money that households often spend during the holidays - for gifts, meals, travel, and even decorations - it's alarming that two-thirds of Americans do not have a holiday budget," said Bankrate's Senior Financial Analyst Greg McBride, CFA.