When asked how Americans are faring financially, most admitted to having to make major adjustments due to the economy, according to the inaugural Wells Fargo Money Study. Two-thirds (67 percent) of Americans say they’ve cut back on spending, and almost half (45 percent) say they’ve put some life plans on hold. A third (35 percent) have dipped into their savings or investments. And almost two thirds (62 percent) say that even though they are able to pay their bills, they have little left over for extras.
“The data tells us that Americans – no matter who they are – are uncertain about the sustainability of their financial lives,” said Michael Liersch, head of advice and planning for Wells Fargo. “We launched The Wells Fargo Money Study to help them get back on track. We took a unique, authentic and fresh look at money from the viewpoint of Americans of all demographics to get insight into how we can make better progress together toward our financ
