WASHINGTON, D.C. (10/22/14)--What spooks U.S. consumers more than any "Walking Dead" marathon or Halloween ghoul is an ever-present sense of the financial inability to pay their monthly bills, according to a recent poll from the National Foundation for Credit Counseling (NFCC).
Ninety-two percent of the nearly 1,400 respondents said they had a fear of running out of money, led by 64% who fear they can't pay each month's bills. Retirement, unplanned expenses and children's education were concerns for 15% or less of respondents.
"The focus on immediate needs, as opposed to future ones such as retirement, reflects the uncomfortable financial situation in which many Americans live month after month," said Gail Cunningham, NFCC spokesperson. "Entering the holiday shopping season already struggling to meet existing debt obligations will only add more pressure on the family."
NFCC suggests five steps to alleviate the financial fear:
"Fear and worry can impact more than a person's finances. People owe it to themselves and their family to find solutions to financial concerns before they negatively impact other areas of their life," noted Cunningham.