smart spending

Holiday spending drops?

 

 

[Begin VIDEO with Kristin Arnold, Bankrate.com 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. Bankrate.com is out with the monthly Financial Security Index and here with insight is Greg McBride, senior financial analyst for Bankrate.com.

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

Kristin: Greg, what did consumers tell Bankrate.com 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 Bankrate.com.

« Back to November 2011 Financial Security Index.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Labor Day road trips to increase

AAA Travel projects that 34.7 million Americans will travel more than 50 miles from home this Labor Day weekend, the highest volume since before the 2008 recession.  ... Read more


Connect with us