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Video: Consumers on financial security

Greg McBride, CFA

Bankrate.com is out with the monthly Financial Security Index and here with insight is Greg McBride, senior financial analyst at Bankrate.com. Greg, what is the status of Americans' feelings about financial security in September?

The disappointing August jobs report took a toll on Americans feelings of financial security, Lucas. The Financial Security Index dropped to a 2012 low of 96.6, which is the lowest since December 2011, and is indicative of feelings of declining financial security over the past year.

What areas of financial security are consumers feeling better or worse about?

There was no improvement to be seen on any of the components this month. The net worth reading held steady from August but feelings of job security, savings, debt, and overall financial situation each slipped. In the past 12 months, net worth is the only area where consumers have noted improvement. Readings on all other components -- job security, savings, debt, and overall financial situation -- indicate deterioration versus one year ago.

Thanks Greg. For more information on Bankrate's Financial Security Index, just log onto our website at Bankrate.com.

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