Money is the biggest concern for the average American

Asked by BIGinsight’s American Pulse researchers what the number one issue facing their family is going into 2013, almost a third said it was money issues. No other category response rate made it into double digits.

Here are the results of the American Pulse survey:

Top 10 Issues Facing Americans Going Into 2013* (Adults 18+)
* Money:  32.3%
* Employment:  8.2%
* Economy:  7.5%
* Cost of Living:  5.9%
* Health/Illness:  5.5%
* Healthcare:  5.1%
* Taxes:  4.4%
* Housing:  3.8%
* Debt:  3.4%
* Government:  3.0%
Source: American Pulse™, Jan-13, Based on the write in question: “What is the #1 issue facing you and your household going into 2013?”

AP noted that 77% of all Americans are seeing a bit less in their paycheck as a result of the fiscal cliff deal, and added that consumer credit debt is up 5.9% from November 2011  to 2012 – and further notes that 36.3% of all consumers are seeking to pay down debt as their primary household finance strategy.

Other points mentioned by American Pulse:

* Employment remains sluggish and well below pre-recession levels

* 2013 is unique in that it is bucking the tendency to start off with improved consumer confidence – instead, BIGinsight’s latest measurement showed a decrease since December 2012

RBR-TVBR observation: We know the extent of at least one payroll deduction hit: The failure to renew the lower rate of Social Security withholding resulted in the loss of about $20 in this writer’s first paycheck of the year. Not pleasant, but it is hardly going to throw our household into insolvency. If that is the worst financial hit we take this year, we will be very happy indeed.

We understand that added together, tens of millions of us simultaneously losing $40 a month in spending power will show up in the overall numbers somewhere. But on a household by household basis, we have to wonder if it is really that big a deal.