SunTrust's Financial Confidence Index continues to climb
SunTrust Bank recently introduced its newest one-of-a-kind financial index that measures Americans' behavior toward money matters.
The annual Financial Confidence Index, irrespective of varied income levels, has scaled down the financial behavior parameters of U.S. citizens based on relevant cores like individual financial confidence, budgeting, debt management, savings, maximizing income and retirement planning.
The index reflected a high growth of Americans' financial habits, confidence and prosperity with a result of 57.8 points in a base of 100. That was higher than April 2017's measurement of 56.3 points.
"While the economy is growing and indicators show that Americans are optimistic, the Financial Confidence Index illustrates that many people are still not taking control and developing strong habits around money," Keith Lerner, SunTrust's chief market strategist, said.