News of a possible double-dip recession and extreme stock market volatility prompted 40% of Americans to reduce their spending in the past 60 days, according to the September Bankrate Financial Security Index.

Although the index ticked up to 93.9, from 92.3 in August, it is still below 100, which indicates declining financial security. At 93.9, the index is at its third-lowest reading since BankRate launched the index in December 2010.

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