• DigitalDealer-horizontal-Logo
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Agenda At-A-Glance
      • Exhibitor List/Floor Plan
      • Sponsor List
      • Hotel & Travel
      • Hosted Dealer Program
      • FAQ
      • Mobile App
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Resources
      • Exhibitor Tips
    • Education
      • Overview
      • Show Schedule
  • ABOUT
    • Conference Overview
    • Best Of Awards
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Contact Us
    • Get Updates
  • RESOURCES
    • Webinars
    • Downloads
  • NEWS
    • Auto Retail News
    • Digital Editions
    • Press Releases
    • Submit Editorial
    • Subscribe
  • .
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Agenda At-A-Glance
      • Exhibitor List/Floor Plan
      • Sponsor List
      • Hotel & Travel
      • Hosted Dealer Program
      • FAQ
      • Mobile App
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Resources
      • Exhibitor Tips
    • Education
      • Overview
      • Show Schedule
  • ABOUT
    • Conference Overview
    • Best Of Awards
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Get Updates
  • RESOURCES
    • Webinars
    • Downloads
  • NEWS
    • Auto Retail News
    • Digital Editions
    • Press Releases
    • Submit Editorial
    • Subscribe

DealerPoint: May 21-23, 2024
Conference & Expo:
October 8-10, 2024

REGISTER NOW EXHIBIT / INQUIRE
Q

NEWS:

Dealer/GM News | Finance & Insurance News | Sales & Marketing
August 23, 2011

Bankrate Financial Security Index Plunges to 2011 Low

Posts:
Dealer/GM News | Finance & Insurance News | Sales & Marketing
August 23, 2011

Bankrate Financial Security Index Plunges to 2011 Low

NEW YORK — A study released by Bankrate.com revealed a steep drop in consumers’ financial security. Bankrate’s overall Financial Security Index fell to a 2011 low of 92.3 amid a recent stock market correction, a U.S. credit downgrade and a barrage of poor economic data. Consumers’ feelings about their savings, net worth and job security all established 2011 lows.

The new study was conducted by Princeton Survey Research Associates International and can be seen in its entirety here: http://www.bankrate.com/finance/consumer-index/aug-2011-financial-security-poll.aspx.

Overall Financial Situation:

  • 35% of Americans say their overall financial situation is worse now than 12 months ago; just 19% say it is better.
  • 41% of senior citizens feel their overall financial situation is worse now than one year ago.
  • One in three Americans younger than 30 say their overall financial situation is better now than it was 12 months ago.

Net Worth:

  • 30% of Americans report lower net worth than one year ago; only 20% say their net worth is now higher.

Savings:

  • 47% of Americans are less comfortable with their savings now compared to 12 months ago.
  • More than half of Americans age 50 and older are less comfortable with their savings now compared to 12 months ago.

Job Security:

  • One-third of Americans between ages 30 and 64 feel less secure in their jobs now compared to 12 months ago.

Retirement:

  • 29% of employed Americans are saving less for retirement than last year, nearly double the 15% that are saving more.

“Recent volatility clearly has consumers nervous,” said Greg McBride, CFA, senior financial analyst for Bankrate.com. “But in these uncertain times, it’s important not to overreact to short-term events. Consumers should make sure that their investments properly reflect their long-term objectives. As long as that’s the case, substantial changes are not necessary.”

Bankrate’s Financial Security Index results are based on telephone interviews with a nationally representative sample of 1,001 adults. The interviews were conducted from August 4-7, 2011 by Princeton Survey Research Associates International. The margin of error is +/- 3.7 percentage points.

 

About Bankrate, Inc.

The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, InsureMe, CreditCardGuide.com, Bankaholic, CreditCards.com and NetQuote. Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company’s flagship brand, Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate.com is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate.com reviews more than 4,800 financial institutions in 575 markets in 50 states. Bankrate.com provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE: AOL), The Wall Street Journal and The New York Times (NYSE: NYT). Bankrate.com’s information is also distributed through more than 500 newspapers.

Dealer/GM News•Finance & Insurance News•Sales & Marketing

SHARE

Share on Email
Share on Linkedin
Share on Facebook
Share on Pinterest
Share on Twitter
← Previous Article Next Article →
Posts Dealer/GM News

New Research Reveals Age and Gender Differences in Vehicle Add-On Purchases

When consumers purchase cars at an auto dealer, they often buy supplemental products and services called voluntary protection products (VPPs). These provide additional coverage and protection for certain vehicle components or services not covered by
Posts Dealer/GM News

Nearly 4,000 Car Dealers Ask President Biden to Slow Down EV Push

Car dealers are asking President Joe Biden to “tap the brakes” in his administration’s electric vehicle (EV) push. A total of 3,882 franchised car dealers the U.S., calling themselves the EV Voice of the Customer, published the letter on No
Posts Dealer/GM News

New Research Reveals Age and Gender Differences in Vehicle Add-On Purchases

When consumers purchase cars at an auto dealer, they often buy supplemental products and services called voluntary protection products (VPPs). These provide additional coverage and protection for certain vehicle components or services not covered by
Posts Data & Analytics

Digital Retailing Continues to Grow at Auto Dealerships

A recent report found car dealers offering consumers the ability to do a deal online has grown to 40% in the last year—but an urgent need to cutdown on repetitive steps happening in the showroom. Nearly all car dealers currently using digital retai
Posts Dealer/GM News

Ciocca Agrees to Purchase 10 More Pennsylvania Dealerships

The Ciocca Dealership group is growing its holdings in Pennsylvania. The agreement has Ciocca purchasing Apple Automotive, the automotive division of York County, Pa- based Stewart Companies. Terms of the deal was not disclosed, with the final transa
Posts Dealer/GM News

Mercedes Launches First Charging Hub in U.S.

Mercedes-Benz is offering a change to the way Americans charge their vehicles in the same way Starbucks altered the routine of getting a cup of coffee. Mercedes, in a joint venture with MN8 Energy to launch a network of premium electric vehicle (EV)
Posts Digital DealerEveryone

Digital Dealer Unveils New Branding & Announces Launch of DealerPoint, Offering Targeted Networking and Driving Innovation

Digital Dealer has revealed its new branding and announced the launch of DealerPoint, a dynamic addition to its event portfolio.   This unveiling of the refreshed logos marks a symbolic step forward for Digital Dealer, aligning with its commitment
Posts Dealer/GM News

Hyundai Dealers Will Be the First to Sell Cars Through Amazon Platforms

Amazon is getting into the (virtual) car dealership business. At the Los Angeles Auto Show Nov. 16, the Seattle-based online behemoth announced auto dealers for the first time will be able to sell vehicles on Amazon’s U.S. store in 2024—with Hyun

NEWSLETTER

SUBSCRIBE

DEALER MAGAZINE

Dealer Magazine March/April 2023 Issue Featuring an Interview with NADA 2023 Chairman
MAGAZINE

Explore All Our Brands

FOLLOW US ON

  • Follow
  • Follow
  • Follow
  • Follow
  • Follow
© 2023 Emerald X, LLC. All Rights Reserved.

ABOUT    CAREERS    AUTHORIZED SERVICE PROVIDERS   DO NOT SELL MY PERSONAL INFORMATION   TERMS OF USE   PRIVACY POLICY