Survey: Financial Stability Lessening

A survey of U.S. households by Online Resources Corp. shows that personal financial stability continues to decrease, as the mortgage crunch, rising energy costs, and a falling savings rate hit more households. The survey of more than 1,000 households found that Americans in all demographic groups continue to prioritize among their bills by creating a "delinquency budget." Of those surveyed, 52% of households reported that it is harder to meet their financial obligations, an increase from 43% six months ago. More than half of the households reported using savings to pay for living expenses or household bills. Although credit cards continued to have the highest reported delinquency rate, mortgage and utility delinquency rates have increased significantly in the past six months. Fourteen percent of households with an income greater than $100,000 reported being delinquent, and 13% of households whose mortgage is paid off also have at least one bill 30 or more days overdue. In addition, the Web, by a growing margin, continues to be consumers' preferred method for resolving their delinquency, the survey found.