Top 3 Fears about the Economy

Do you feel better about the economy now that the government bailout is in full gear?  Will it keep the country from sliding into a depression?  What effect will it have on your finances?

Well, a recent Bloomberg/Los Angeles Times poll shed light on how Americans are feeling about the economy.  We’ve got the top 3 findings:

1.  Financial disorder.  It’s not just Wall Street.  Almost 40% of those surveyed described their finances as shaky.  Over half of the respondents said they feel personally threatened by the current economic turmoil.

2.  Living paycheck to paycheck.  Nearly a third of the respondents—regardless of income—said it would be difficult—if not impossible to get their hands on $1,000 overnight.  That’s scary—and it shows that way too many people are living on the edge of financial disaster.

3.  Negative outlook.  Nine out of ten Americans rarely agree on anything, but a full 90% of those surveyed believe the economy is doing poorly—even after the bailout.  Not surprisingly, most low-income participants don’t feel good about the future.  The one bright spot—most higher income individuals felt the economy will do better in 6 months.

For more info or to gain insight please visit: www.moneylife.org.