Our newest survey shows how Americans are responding to the financial crisis. The national survey conducted last week asked Americans how the recession is affecting them and their peers.  This survey is our second this week in honor of Financial Literacy Month.  You can see the results of part 1, which revealed how few Americans understand basic economics, here: [LINK]

Highlights from the survey of adult Americans:

• 64% know someone who has lost their job in the past six months
• 40% have begun saving more because of concerns about the economy.
• 76% expect the recession to last for at least another year.
• 64% have less than six months of savings in case they lose their job. 39% have two months or less.
• 19% have experienced trouble accessing credit in the past six months.

83% of survey respondents said they expected a tax refund this year.  31% were planning on spending the refund, 29% expected to put it into savings and 18% said they would use it to pay off existing credit card debt.

You can see the full survey and results at www.Econ4U.org/survey_results.cfm

This report presents the findings of a telephone survey conducted among a national probability sample of 1,002 adults comprising 500 men and 502 women 18 years of age and older, living in private households in the continental United States.  Interviewing for this survey was completed during the period March 20-23, 2009.  The results have a margin of error of +/- 3%.

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