News

Money Wise Florida Poll Summary

Deep concern, real financial impacts

45.6 % are very concerned, 83.4% are very or somewhat concerned about their financial challenges now compared to a year ago
Nearly 38% have suffered a financial crisis in the past year
One in four say their home is worth less than their mortgage
72.6% know someone who lost their job last year
43% don't expect to be financially stronger in a year
55% say they are not confident investing in stocks, real estate or a house
72% say they are not confident changing jobs, starting a business or running up an additional debt
Top item to be cut from the family budget is going out to eat (43%), with 21% reporting going out to the movies
Nearly 47% say they will spend less on the holidays than last year

Most say they do the right things...

Nearly 92% say they review bank statements monthly and more than 95% say they review their credit card statements monthly
Two-thirds say they pay off credit cards monthly
But a "troubled third" report significant financial struggles
About a third have more debt than savings
About one-third have borrowed against or cashed in savings, and 42% have no emergency fund
About one-third expect to have to delay retirement
One-third revolve debt from month to month, with 26% having $2,000-5,000
27% having 5,000-20,000, and 26% having $20,000 or more in credit card debt
One-third don't conduct an annual home insurance review and don't have full value coverage for possessions