Financial Security Index

Americans are feeling more bullish about their finances. Bankrate.com’s Financial Security Index was 102.2 in March. That is up from 99.3 last month, explains Chief Financial Analyst Greg McBride. “For the month of March, consumers are very upbeat saying their financial security has improved relative to a year ago.” Americans report in the survey that 2014 is better financially for them than 2013 was, adds McBride. “In terms of overall financial situation, those Americans that say their situation is better now than a year ago out number those who say it is worse by a three to two margin.” The reason is that components are improving, concludes McBride.  “For the third consecutive month four of the five components have shown improvement relative to a year ago.  The laggard is still savings, that is really the Achilles heal of financial security.” The Index measures feelings on five factors: job security, savings, debt, net worth and overall financial situation.