State of the Economy Survey

The state of the ecomony: We Asked. You Answered.

The talking heads in the media have very strong and very, um, varied opinions about the economy. But we don't care about them, because we're not owned by them. We're owned by our members. So we asked those members — that'd be YOU — what you think in our State of the Economy Survey. Here's what you had to say.

Economic Concerns | Quality of Life | Holiday Spending

Overall, CommunityAmericans are being cautious about the economy in 2010. 50% say they are very concerned about the economy going into 2010, and 46% are somewhat concerned. When asked whether they are more optimistic or more pessimistic about the state of the economy, 36.4% are in the 'glass half full' group (more optimistic) and 32.9% chose the 'glass half empty' (more pessimistic). More than 80% don't see the recession ending in 2009.

So how is the economy affecting your way of life? More than 88% of respondents reported trying to save money this year, and 64% said their finances are better than last year. But CommunityAmericans are playing it safe, as nearly 90% said they didn't save enough money this year and 89% said they plan to save more next year.

Nearly 73% reported they minimized their debt, and some of this was accomplished by not buying something that was planned. 64% said they held off making a purchase that was planned for 2009.

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This holiday season, CommunityAmericans are tightening their Santa belts by preparing to spend less. When we asked our members before Thanksgiving, 64% reported they weren't planning to shop the Black Friday sales. The downside — 67.5% say they haven't saved for this year's holiday spending.