Western Union money mindset index finds consumers stressed.(Briefing Book)

A new quarterly index released by Western Union for first-quarter 2009 found startling evidence of financial deterioration among U.S. households. The Western Union Payment Services Money Mindset Index found "one in four consumers report being contacted by debt-collection agencies in the last six months," according to a release announcing the findings.

The index found a jump in the number of consumers who report more frequently making only minimum payments. That number climbed to 36 percent from 31 percent, the release stated. Sixty-one percent report being more stressed about meeting their financial obligations. In addition, 29 percent of consumers have the most trouble paying off or paying their primary credit card on time.

Fully 22 percent of those surveyed reported paying more of their bills after the due date, up from 20 percent. And 33 percent of consumers in the first quarter reported they were waiting longer to pay bills.

Consumers also reported reprioritizing their bills, with so-called "luxury utilities" taking a back seat to mortgage and utility payments. The index found that 38 percent of consumers surveyed consider their utility payments a high priority, while 25 percent deemed their mortgage a high priority. The Western Union index also found that 31 percent of consumers are paying more bills with debit cards, while more consumers plan to pay bills in person over the next six months (going from 15 percent six months ago to 20 percent today.)

The survey was conducted in March 2009 by Javelin Strategy & Research, Pleasanton, California. The company surveyed 3,009 respondents online about their current behavior and emotional mindset regarding debt and personal finance issues.

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