0


Ba Humbug! Forty Percent Plan on Spending Less on Holidays than Last Year

author: brionnamuyco 10:14 am EST December 18, 2013
By USDR       Nearly four in 10 Americans (38%) plan to spend less this holiday season than they did last year, according to a new Bankrate.com (NYSE: RATE) report. Only 14% plan to spend more this year and 47% plan to spend about the same amount as last year.       Americans planning to spend less outnumber those planning to spend more in each age and income group; the disparity increases with age. Households with income less than $50,000 are the most likely to say they plan to spend less this year.     "Many Americans continue to struggle with little or no savings and stagnant wages, forcing them to rein in their spending this holiday season," said Greg McBride, CFA, Bankrate.com's senior financial analyst. "Overall, Americans are feeling more financially secure after the government shutdown and debt ceiling saga were resolved, but many are still clutching their pocketbooks closely."     Americans' feelings of financial security are now at their highest level since August. They are in positive territory for each age group under age 65. Overall, 25% of Americans feel better about their finances than they did last year and 18% feel worse.     Bankrate.com's Financial Security Index registered a 100.4 in December; readings above 100 indicate improved financial security compared with one year previous. The index dipped into negative territory in September, October and November, due in large part to the uncertainty in Washington.     Feelings of job security turned positive in December for the first time since September, completely unwinding the negative sentiment of the past two months. Net worth continues to be a strong area of financial security: those reporting higher net worth than one year ago outnumber those reporting lower net worth by a margin of three-to-two.     Savings is the only area of financial security that has elicited negative feelings every month since the poll debuted in December 2010.     The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:     http://www.bankrate.com/finance/consumer-index/financial-security-charts-1213.aspx

The opinions expressed in the columns written by US Daily Review's writers only reflect the opinion
of the individual writer. If you disagree with something, we invite you to engage our writers and carry
on a thoughtful dialogue.

Leave a Reply

*

Commnet

EcoPlus is powered by PlusCaptcha.



Get educated about retirement
You'll thank yourself later.

Open and fund an IRA today
+get upto $600. >
replay
More Stories Updated  

Aug 27, 2014 . 0  Comment

    By USDR¬†       Two reports were released on the New Markets Tax Credit (NMTC), one by the Government Accountability Office (GAO)

Read More...

Aug 27, 2014 . 0  Comment

                          By USDR¬†         Patrolling the border is a dangerous

Read More...

Aug 27, 2014 . 0  Comment

                          By USDR¬†       As college students arrive on campus this

Read More...

Aug 27, 2014 . 0  Comment

¬†By USDR     Thomas R. Williams, retired NFL player and motivational speaker, releases his first book¬†Permission to Dream: I Can I Will I Did.¬†

Read More...