Widespread Financial Insecurity

According to the US Census, 45% of Americans feel financially insecure. A majority are spending more than they make (54%). One-third have no savings.

“all households had less slack in their budgets in 2014 than they had a decade before.” – Pew Research

Incomes are rising, but not enough to create a significant shift in widespread financial security. It will take sustained increases to allow people to accumulate enough excess income that they can then begin saving again. In such a situation, it is understandable if people are being more careful with their money, and not engaging in the consumer economy. At least for now.

(Click on the graphic for the link.)

“Household Incomes Rose in 2015” – Pew Charitable Trusts