"The numbers suggest that people are growing more accustomed to the current economic situation," says Keith Brannan, vice president of financial security planning for COUNTRY Financial. "Specifically, young Americans likely are realizing they have time on their side to improve their financial security. But that doesn't mean they are - or should be - comfortable. Those who have made the lifestyle adjustments or put a new plan in place should feel better about their ability to weather this economy. Our concern is for those who have not taken those steps or who are not sticking to their plan."
Americans' worries about debt continue to dip
- Those confident they can pay all of their debts as they come due increased again in August, up another two points since June to 82 percent.
Confidence in insurance protection hits high
- Eighty-five percent are confident their house, car and possessions are adequately insured, up two points from June and the most Americans to feel this way since the Index began in February 2007.
- There was a four-point increase to 68 percent in those confident their family would live comfortably if they died or were disabled, the most confident in this measure to date.
"There is much more to financial security than what happens on Wall Street. It is encouraging to see people are growing more confident about protecting their home and possessions, and using life and disability insurance to protect their income should the unthinkable happen," adds Brannan.
