smart spending

Holiday spending drops?



[Begin VIDEO with Kristin Arnold, anchor introducing the video topic]

Intro: Holiday shopping season is now in full swing and many people will gauge the health of the economy on how much consumers are spending online and at the mall. is out with the monthly Financial Security Index and here with insight is Greg McBride, senior financial analyst for

[Cut to a double screen of Kristin Arnold and Greg McBride]

Kristin: Greg, what did consumers tell about their holiday spending plans for this year?

Greg: Forty-two percent of Americans say they intend to spend less this holiday season than they did a year ago ... and sorry kids, but nearly half of parents, 49%, say they intend to spend less this year than last year. Only about 1 in 10 Americans say they expect to spend more this holiday season.

Kristin: And what about their overall level of financial security?

Greg: The Financial Security Index fell for the second month in a row. It was dragged lower by mostly lower levels of job security. Only about 1 and 8 Americans feels more secure in their job today than they did 12 months ago. The Financial Security Index is at the second lowest level of the year and it's behind only that abysmal August reading.

Kristin: Any change in how consumers feel about savings and debt?

Greg: Well, aided mostly by the October stock market rally, we did see a little bit of a rebound on net worth. More people reporting higher net-worth than a year ago ... fewer people reporting lower net-worth than last year. But the feelings on savings and debt were largely unchanged since October.

[Cut to one shot of Kristin on camera]

Kristin: To read more about consumers' plans for holiday spending and their feelings on financial security, check out the latest Financial Security Index at

« Back to November 2011 Financial Security Index.


Show Bankrate's community sharing policy
          Connect with us

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

Partner Center


Tara Baukus Mello

Diesel car sales grow

While gas prices have dropped dramatically, the sales of diesel cars has continued to grow, rising 13.5 percent in 2014 over 2013, according to the latest data compiled by IHS Automotive for the Diesel Technology Forum.  ... Read more

Connect with us