Most Americans at least occasionally spend more than they make, but they're mostly OK with that, Fox Business reported today. The May 2012 COUNTRY Financial Security Index indicated that while 52 percent of respondents spent in excess of their monthly income in at least a couple of months of each year, only 9 percent said their lifestyle is more than they can afford. On a positive note, the survey found 51 percent of respondents had a household budget in place. "Half of Americans have taken an important first step in setting up a budget," said Keith Brannan, vice president of financial security planning for COUNTRY Financial. "But a budget is only helpful if it's realistic and tailored to your situation." COUNTRY Financial identified a "perception gap" between how individuals view their finances and their actual spending habits. Perhaps because most families have a budget, they don't see their overspending as a problem. To compensate for excess expenses, those surveyed used a variety of tactics: 36.2 percent used money from a savings account, 21.7 percent used a credit card, 12.3 percent delayed bill payments and 7.8 percent borrowed money.
