April 16, 2013

Waist or wallet size? Which would you reveal?

[For the official release, check out the complete survey and results]

What would you rather tell your co-workers ­­– your real weight or your checking account balance? That’s what we asked Americans this month in our COUNTRY Financial Security Index survey. Here’s what they came clean about:

  • Most people (63%) would rather share their real weight.
  • Only 23% would reveal their checking account balance.

What Our Experts Say: You needn’t wear a t-shirt with your checking account balance on it. But, you also shouldn’t be ashamed or afraid to talk about your finances. Bringing others – whether family, friends or a professional – into the conversation can help you reach your goals.

Men are more self-conscious about their cash, and women are more skittish about the number on the scale.

  • 68% of men would rather tell their real weight (vs. 58% of women).
  • Men are also less honest about their money. More men (22%) have lied about their income ( vs. 18% of women)

What Our Experts Say: Uncomfortable with your finances? It’s time for a change. See what’s stressing you out and, if possible, develop a plan to remedy it.

Although most may be hesitant to talk about their money, it’s still on their mind. People are focusing on savings and not running away from budgeting.

  • If Americans got a $1,000 bonus, more than half (54%) would save it.
  • 77% would rather budget than get a root canal (can you blame them?). Still, 12% would prefer the dentist chair!

What Our Experts Say: Sometimes budgeting seems as painful as a dentist visit. It’s great most aren’t dreading to face their budget though. But, if you are, that’s a clear sign you especially need to revisit it!

What other financial secrets are people hiding? Check out this infographic to see a few of them:

Americans Financial Secrets

What about me? Waist or wallet size? I guess that depends on whether or not you ask me after I just polished off my weekly burrito from Chipotle or Taco Bell.

What about other Gen Yers? To see what secrets they’re hiding and more data and insight, check out our complete survey! You can also download a copy of our April 2013 data and Financial Secrets infographic.


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