Everyone has their own unique financial situation. They also have their own unique financial concerns. The National Foundation for Credit Counseling has found that Americans have several financial concerns in common. Here are the top financial concerns of the American consumer.
In this economy job loss is a big concern for many Americans. There seems to be more and more college graduates and more people getting laid off and fewer jobs to meet the needs of the work force. This is leaving those who still have their jobs concerned about their job security. Fewer and fewer Americans feel as though they have security left in their jobs.
Health insurance is another concern for many Americans. There are many who feel they do not have enough insurance and others who do not have any at all. This poses a big problem if they were to get sick or have a big medical problem. Getting health insurance when your company does not offer it can be difficult, confusing and costly as well. This is leaving many Americans feeling in over their heads when it comes to health insurance.
A big concern for many Americans is not having enough savings. You need to have savings not just for retirement but for emergencies as well. You cannot plan for emergencies, which is why you need to have money put away just in case on comes up. If you have no savings you could in up in financial trouble down the road. Many want to save more, but are finding it difficult to save, and many do not know where to start.
Foreclosure is another concern that many consumers are worried about. While foreclosure rates have dropped, they are not gone. Foreclosure is a real concern for many Americans. It is becoming harder and harder to have the American dream and own your own home. Doing so is getting some people in over their heads and causing them to get in over their heads financially putting them at risk for losing their homes.
Another concern for the American consumer is credit. You need to have a good credit score if you want to get a loan and if you want to get a decent interest rate on your loan. With some credit scores you will be able to get a loan but the interest rate will be so high it may not be worth it, because you may not be able to pay off the loan itself, you will just be paying on the interest. Having good credit is a big deal and for some it is harder to obtain than it is for others.
The last financial concern that the American consumers are worried about is simply not meeting their financial obligations. It seems as though this is becoming harder and harder to do every day. The prices of necessities go up but our wages stay the same. It makes things truly difficult. Many people get in so debt so far they do not know how to get back out. Meeting financial obligations is a basic necessity of living and if we cannot do it, then what are we to do?
While everyone has their own unique financial situations, there are common financial concerns that Americans are facing. It may be harder for some to deal with than for others. There may be no easy or generic way out of it, but if you work hard you will be able to find our own way to make things work for you.
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