Metro Market: Minneapolis/St. Paul

After improving in April, Twin Cities’ residents have grown more uneasy about their finances, as the local COUNTRY Financial Security Index^® decreased 0.8 points to 69.3 in June. The decline was driven by increased pessimism in the ability to save for a secure retirement and pay debts. Despite the decline in sentiments, residents remain more upbeat about their money matters than Americans nationally. The national COUNTRY Index remained stable in June, ticking down 0.1 points to 64.8.

Twin Cities residents may be seeing a light at the end of the tunnel, as confidence in long-term financial goals showed improvement in April. Those confident they will have the financial resources to send their children to college jumped four points to 67 percent, and those confident they will have a comfortable retirement increased five points to 64 percent. Further, 21 percent say their financial security is getting better, compared to 16 percent who felt this way in February.

Polling of Twin Cities’ residents also revealed:

Fewer residents (60 percent) are confident they will be able to enjoy a comfortable retirement than felt this way two months ago (64 percent)
Seventy-nine percent are confident they will be able to pay their debts, down from 82 percent in April.
However, there was a one-point increase to 57 percent in the number of residents able to set aside money for savings or investments recently.

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