Consumer finance is one of the things people worry most about. This includes savings, interest rates, and credit. These issues affect consumers’ ability to pay for what they need, including healthcare and utilities, and what they want, such as consumer technology and electronics.
According to a June 2015 Financial Security Index survey conducted by consumer financial services company Bankrate, 29 percent of respondents said they had “no emergency savings,” 21 percent said they had less than three months worth of emergency savings.
According to data provided by the U.S. Bureau of Economic Analysis and published by economic indicators website Trading Economics, the U.S. personal savings rate has been steadily declining since its high in the 1970s.
Consumers’ Research is engaged on informing consumers, elected officials, and those who make and oversee the implementation of regulations. We strive to make these bodies aware of the impacts that policies, regulations, and proposed legislation has on these value factors.
Our basic methodology for financial-related projects includes the following steps:
- Consumers’ Research conducts regular simple household surveys of American households to determine the beliefs Americans have as to what is driving the quality, safety, cost, availability, and variety of their financial-related expenditures.
- We conduct research into the driving forces behind these same value factors.
- We identify the greatest gaps between consumer knowledge and consumer reality, focusing first on those gaps in safety that represent a hazard to the consumer.
- Consumers’ Research, in addition to publishing the findings of our surveys and research, conducts an education campaign to promote the results of our research to better inform consumers.
Our current projects involve helping consumers better understand financial products and how those products can help or hurt their long-term financial position.
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