“When I was your age” – I was richer!

According to their folks, kids may have a pretty rough time of it in the future.

The latest "Consumer Intentions and Actions Survey," from BIGresearch, when asked "Do you think your children and/or grandchildren have a better economic future than you did?," almost two thirds (62%) of the 7,500 consumers polled answered with a resounding, "No!"

The uncertainty was shared across all age groups, with slightly more women responding negatively than men. However, younger respondents (ages 18-24) were not quite as downbeat as older consumers.

The age group with the most uncertain economic outlook on the future was 35-54-year-olds. Among this group, 48% feel they do not have adequate savings for the future, 31% are paying for purchases with cash more often, and 34% plan to start increasing their savings in the next 90 days. These consumers also plan to curtail spending on dining out (42%), vacation travel (38%), and entertainment (37%).

Depressing reading Dick Stroud