Contact Us

Many NJ Residents In Bad Shape Financially, Survey Says [AUDIO]

If you’re struggling financially, a new Allstate Financial Life Track survey finds you are definitely not alone.

Comstock, Getty Images

“Only 44 percent of New Jersey residents say they have enough money left over at the end of the month after paying for essentials, and also, about half of New Jerseyans are living paycheck to paycheck,” according to Allstate New Jersey spokesman Danny Jovic.

He points out, even though these numbers indicate a fair degree of fiscal instability, when Jersey residents were asked how they would rate their financial situation, more than half – 56 percent of them said it was excellent or good, which is higher than the national average of 50 percent.

Jovic points out the survey also finds,  “New Jerseyans spend 16 hours a week watching TV and surfing the web, but only one hour paying bills and managing their finances.”

What’s surprising is the poll also finds more than 4 out of 5 Jersey residents – 86 percent – express confidence in their own ability to manage their personal finances, even though so many folks are struggling financially.

What Should Be Done?

Jovic says it’s critically important for folks to do their homework. He suggest going online, where there’s a lot of information about managing finances, and they can,  “set goals, and a clear timetable to achieve those goals.”

He also point out the survey finds 88 percent of respondents are making some kind of a debt payment, which would include credit cards, mortgages, car payments and student loans.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

NEXT STORY: NJ Resident Says Jobs is Most Important Issue

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wobm.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on 92.7 WOBM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on 92.7 WOBM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!