A measure of financial security has edged up since February, according to a new survey.
The COUNTRY Financial Security Index, published by COUNTRY Financial, Bloomington, Ill., inched up 0.4 points from February to 66.2. The uptick marks the fourth consecutive increase in financial security sentiments, the longest in the survey’s five-year history, the company reports.
A bi-monthly measure, the index is an aggregate of factors comprising financial security, including savings and investments, financial planning, retirement, education and asset protection. The index is compiled by Rasmussen Reports, LLC, an independent research firm, based on a national telephone and online survey of at least 3,000 Americans.
Improvements in savings and optimism about college funding helped drive the overall increase, the survey says. Fifty-three percent were able to set aside money for savings this month, a three-point increase from February. This is the most Americans were able to save since October 2008.
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Those confident in their ability to send their children to college jumped five points to 61%. But the survey finds that Americans “seem undecided about the future of their financial security.”