Scary costumes and haunted houses can be fun one night of the year, but dealing with real-life financial fears on a daily basis is no treat. However, the National Foundation for Credit Counseling® Financial Literacy Survey revealed that 71 percent of respondents admit to having financial worries.
Sharing the top spot on the list are concerns about a lack of savings, equally divided between not enough savings for everyday emergencies (16 percent), and not enough money for retirement (16 percent).
Other top worries included the following:
- Not surprisingly, fears related to either losing a job or not being able to find a good-paying job was second on the worry list (13 percent).
- Worries associated with debt held the third spot (7 percent), and included concerns about not being able to pay credit card debt, student loan debt, a monthly vehicle payment or existing medical debt.
- Four percent of respondents worry about not being able to afford health insurance. Four percent also have concerns about their credit score and access to credit.
- Rounding out the list were fears that their personal financial situation is out of control, not being able to afford to send children to college, not having a good overall understanding of personal finance, losing a home to foreclosure and potentially having to file bankruptcy.
Source: www.NFCC.org
