Who says the economy has turned around?

• Position: YOUR LIFE

A peek into the financial mindset of Americans reveals that one in four is not saving and "struggling" to pay bills, while four percent rely on a "big" tax return to ease financial stress--and half will not increase spending this summer, according to data from Western Union Payments' Q1 2011 Money Mindset Index.

Some 29% of consumers have the "most trouble" socking money away for a standard savings account;, 79% feel positive about their financial future; 41% report a credit score of 700 or higher, while 11% report 550 or lower; and 61% claim they pay bills on lime, while 13% admit having debts in collection.

As for Gen Y compared to all consumers, 13% expect to enter into major debt (versus 10%); 40% anticipate earnings to increase (versus 28%); 67% plan to...