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Financial Planning > Behavioral Finance

Survey: Workers Calmer Since War Started

By Staff Writer

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NU Online News Service, April 11, 2003, 11:48 a.m. EDT – U.S. workers seem to be taking a calmer approach to financial planning now that the United States has moved in to Iraq, according to results of two new surveys by Harris Interactive Inc., Rochester, N.Y.

The United States started intense bombing March 19.

Harris researchers, who conducted the surveys for Principal Financial Group Inc., Des Moines, Iowa, used the Web to poll 1,111 adults who work for U.S. companies with 10 to 1,000 employees in early March.

The researchers then used the Web a second time in the last week of March, to do a follow-up survey of 865 adults who work for businesses in the same size range.

In early March, 39% of the workers surveyed said they would cut back on expenses, and 51% said the war might or definitely would change their financial strategies.

In late March, only 23% of the survey participants said they were cutting expenses, and only 31% thought the war would or might change their financial strategies.

When researchers asked workers to identify their two biggest war-related concerns, 61% named long-term financial security first. Staying employed ranked second, at 33%, and physical safety and security ranked last, at 24%.

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