Consumers Panic About Economy, Trim Spending

September 19, 2011

A new survey from Bankrate reports that 40% of Americans have trimmed their spending in the last 60 days, driven by headlines about a weaker economy.

While Bankrate.com's September Financial Security Index rose a bit from its August trough, rising from 92.3 to 93.9, it's still at the third-lowest level since the monthly polls started in 2010.

Spending pullbacks appeared in all income groups, with 37% of the highest-income households ($75,000+) cutting back and 43% of the lowest-income households (under $30,000) making adjustments. --Sarah Mahoney