Many Americans Struggle Financially
A recent report found households that make less than $50,000 annually are struggling more in the wake of the recession than those with an income of $100,000 or more.
The Consumer Reports Index, compiled by the Consumer Reports National Research Center, showed that sentiment for wealthy Americans stands at 54.8. a positive figure. Typically, a rating of more than 50 is considered positive. Americans who are in the low-income category still sit far below this figure.
"We are seeing a tale of two very different recoveries," said Ed Farrell, a director of survey research at the Consumer Reports National Research Center. "While things have been improving for the wealthiest Americans for some time, lower-income families still have very little to be positive about."
Consumers who have a significant amount of credit card debt and also struggle financially may want to be careful, as their credit rating can be ruined by missing payments. This can develop into a string of poor monetary actions, so making a minimum payment may be a wise decision.
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