Consumers say saving is still difficult

05.13.09
By Timothy Jones

Are you clipping coupons, eating out less and foregoing vacations but somehow still finding yourself in a financial quagmire?

You're not alone, according to a new survey of consumers who say they are still having trouble saving money. The study conducted by Market Strategies International shows that 48 percent of U.S. consumers surveyed are saving less money since the economy began its downward spiral.

In the survey of both U.S. and UK-based financial services consumers, Market Strategies International found that many believe their financial situation is on the "wrong track" and at least a quarter of those in the U.S. are not confident their money is secure anywhere.

But if you need to park your money somewhere, it seems that fellow Americans currently favor certificates of deposit (CDs) or a savings account as their investment vehicle of choice, says the study.

It's likely the large drops and subsequent swings in the stock market that have many worried about their mutual fund and other long-term investment accounts.

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