More Americans unhappy with their savings - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

More Americans unhappy with their savings

Seventeen percent of Americans have neither emergency savings, nor credit card debt. (Source: MGN Online) Seventeen percent of Americans have neither emergency savings, nor credit card debt. (Source: MGN Online)

(RNN) - Americans' satisfaction with their savings reached its lowest point in a year as people's credit card debt nearly matched their nest eggs, a new report said.

About half of us, 51 percent to be exact, have more emergency savings than credit card debt, according to Bankrate.com, a website that monitors banking and financial information. That is the lowest percentage since the personal finance reporting service began tracking the figure in 2011.

The numbers are the product of phone interviews conducted in February with 1,004 adults living in the continental U.S.

And the number of Americans carrying more credit card debt than savings is on the rise. That figure stands at 28 percent, the highest percentage in four years. But 17 percent have neither emergency savings, nor credit card debt, the survey said.

Those in the top earning years of ages 30 to 64 are the most likely to have more debt than savings, the report said. That's not a good sign for the health of household budgets, a Bankrate.com expert said.

"This is a reflection of the stagnant incomes, long-term unemployment and high household expenses that are hampering the financial progress of many Americans," according to Greg McBride, Bankrate.com's chief financial analyst.

Overall, Americans who are uneasy with their savings outpace those who are satisfied by a two-to-one spread, the survey said. Stagant job growth numbers and a slide in the stock market has hurt consumer confidence, McBride said.

"The stock market's rocky start to the year, and a run of less-than-stellar economic readings have put a dent in consumers' feelings of financial security," McBride added.

The survey was conducted by Princeton Survey Research Associates International (PSRAI).

Copyright 2014 Raycom News Network. All rights reserved.

  • Local NewsLOCALMore>>

  • Student in custody following threat to Purvis High School

    Student in custody following threat to Purvis High School

    Thursday, February 22 2018 5:48 PM EST2018-02-22 22:48:35 GMT
    Lamar County School District confirmed this photo circulated through social media on Thursday (Photo Source: WDAM viewer).Lamar County School District confirmed this photo circulated through social media on Thursday (Photo Source: WDAM viewer).

    A photo circulating on social media referencing a threat to Purvis High School has landed a student in police custody. 

    More >>

    A photo circulating on social media referencing a threat to Purvis High School has landed a student in police custody. 

    More >>
  • Some top opioid providers raise red flags

    Some top opioid providers raise red flags

    Thursday, February 22 2018 4:48 PM EST2018-02-22 21:48:19 GMT

    Family physicians, nurse practitioners and doctors whose health care focuses on non-narcotic therapies are some of the nation’s most prolific opioid prescription writers in recent years.

    More >>

    Family physicians, nurse practitioners and doctors whose health care focuses on non-narcotic therapies are some of the nation’s most prolific opioid prescription writers in recent years.

    More >>
  • Southern Miss NCS4 helps keep Winter Olympics safe

    Southern Miss NCS4 helps keep Winter Olympics safe

    Thursday, February 22 2018 4:32 PM EST2018-02-22 21:32:13 GMT
    The National Center for Spectator Sports Safety and Security, or NCS4, played a role in training security for the Winter Olympics. (Photo source: WDAM)The National Center for Spectator Sports Safety and Security, or NCS4, played a role in training security for the Winter Olympics. (Photo source: WDAM)
    (Source: WDAM Staff)(Source: WDAM Staff)

    As the stunning flips and tricks of the 2018 Winter Olympics played out from South Korea over the past couple of weeks, we’ve watched and cheered on Team U.S.A. to bring home the gold.    What you might not know is the University of Southern Miss had a hand in the huge strides to keep the event safe and secure for athletes and spectators on the other side of the world. 

    More >>

    As the stunning flips and tricks of the 2018 Winter Olympics played out from South Korea over the past couple of weeks, we’ve watched and cheered on Team U.S.A. to bring home the gold.    What you might not know is the University of Southern Miss had a hand in the huge strides to keep the event safe and secure for athletes and spectators on the other side of the world. 

    More >>
Powered by Frankly