Americans’ sense of financial well being improved slightly in October after declining for the past six months and hitting an all-time low in August, according to a new report.
Country Financial, Bloomington, Ill., published this finding in its latest edition of the Country Financial Security Index. Based on a national telephone survey of 3,000 Americans, the index is an aggregate of various factors comprising financial security, including savings and investments, financial planning, retirement, education and asset protection.
Country Financial reports that the index inched up 0.8 points to 63.2, driven by an uptick in nearly all aspects of financial security.
The number of people rating their overall financial security positively (36%) and those able to set aside money for savings or investments (44%) both increased two points. These short-term upticks, the study says, might have improved Americans’ long-term outlook.