According to a new survey done by FTI Consulting, Inc. on behalf off Allstate Insurance, Americans are increasingly living from “hand to mouth”. The study reports that 41% actually live from one paycheck to the next, while a very unfortunate 8% can not make it even that far – reporting that they just plain go without everyday essentials! This significant study, carried out in mid-December, surveyed 1000 persons within the U.S. (all older than 18). The authors admit to a margin of error of plus or minus 3.1% in 95 out of 100 cases.
The study illuminated a number of attitudes and struggles within the U.S. public surrounding personal finances and the human emotions attached to finances. As we know, this area has become especially challenging due to the extremely weak economy and now chronically high levels of unemployment.
One of the most interesting insights from the study is that almost six of every ten Americans (59%) report that they know how to handle money and make sound financial decisions, and yet 47% admit that they save less money than they should be saving.
Reflecting a financial dichotomy within the U.S., half of all survey respondents described their financial circumstances as “good” or “excellent” and the other half used “fair” or “poor” to characterize their finances.
It is well worth noting at least one positive from the survey. Over half of the respondents (52%) indicate that they are better off than during the time they were growing up; meanwhile, 82% of the participants believe they are better off than their friends. http://investmentwatchblog.com/tag/fti-consulting-inc/