The findings highlight a prevalent viewpoint across the nation that fiscal fitness is a priority for 2009 both in terms of saving and paying off debt. However, the study raises questions as to whether Americans have the proper financial education to reach their goals. The study was conducted from December 5-9, 2008, by Harris Interactive® on behalf of Union Bank, N.A.
"It is encouraging to see that Americans want to make fiscal fitness an important part of their lives, just as they do with physical fitness," said Union Bank Executive Vice President, Pierre Habis. "In both instances, the key is developing a regular routine and committing to it, so whether you’re seeking to loose weight or tone your muscles or save more money this year, the results will come by sticking to a consistent regimen."
The survey also revealed that seventy-two percent of adults age 34-55 believe they do not have enough money saved in the proper accounts to make it through the next year. In addition, nearly half of those surveyed (45 percent) declared that if they had access to a large amount of money without penalty, paying off debt would be their top priority rather than saving money or making a large purchase such as a home, car or vacation. "These responses show that we need to save more and build our nest eggs," said Habis. "It’s also encouraging to see that people know the importance of reducing debt as part of the savings process."
