Include me in THAT feeling….
Americans are afraid — and not just about the recent volatility in the stock market.
Nearly one quarter (23%) of people say a lack of emergency savings is the one financial issue that keeps them up at night. Some 22% who say they don’t have enough retirement savings, 20% fear they’ll be the victim of some kind of fraud, 19% worry about losing their job, 9% fret about losing their health insurance and 7% say poor credit is the one thing that keeps them awake at night.
‘If I had to wager a bet on it improving in the next 12 months or getting worse, I would vote in the direction of the economy getting worse.’
That’s according to a survey released Thursday by personal-finance site WalletHub.com. With credit-card debt now exceeding $1 trillion, it may be less of a surprise that 4 in 10 people say they overuse their credit card. In fact, 3 in 10 people describe their finances as a “horror show.” (A slew of recent researchsuggests people have only a few hundred dollars saved for a rainy day.)
“If I had to wager a bet on it improving in the next 12 months or getting worse, I would vote in the direction of the economy getting worse,” said Debbie Psihountas, professor of finance and dean of Florida Southwestern State College’s School of Business and Technology. Economists cite the trade war with China, volatility in the stock market and rising interest rates as a triple threat…..