Monday, December 23, 2024

Younger Generations Lean Towards Cryptocurrency Over Real Estate, New Survey Finds

2024-04-09 09:25:00  |  cryptocurrency demographics real estate 

... Gen Zers are more inclined towards cryptocurrency (20%) than traditional investments like stocks (18%), and 14% have experimented with "infinite banking," a strategy involving borrowing against the cash value of a whole life insurance policy. This inclination towards newer, riskier investment forms and financial strategies is more pronounced among younger generations, with 8% of them turning to social media first for financial advice, compared to a mere 2% of Gen X and baby boomers.Myles Ma, a Certified Personal Finance Counselor at Policygenius, commented on the findings, noting that while yo...

Consumer Spending Not Wilting In Summer Heat

2022-08-09 12:10:00  |  consumers economy 

...  steadfast endurance of US consumers: reduced gas prices in July gave consumers some relief, while merchant promotions increased spending on items. Consumers have not yet showed signals of increasing borrowing, and household deposit and savings balances are still high. Approximately in line with June's figures, Bank of America's total payments climbed 7% year over year in July. This figure provides a comprehensive picture of cash flow and includes credit card, debit card, Automated Clearing House, wires, bill pay, person-to-person, cash, and cheques. The average household's card expend...

Will The Housing Bubble Burst?

2022-07-28 10:00:00  |  housing 

... nding practices at the time. Consequently, any imminent correction in housing prices will likely be moderate, driven by slowing demand related to consumer borrowing costs.  ...

Gen Z Has The Lowest Financial Literacy

2021-10-20 12:10:10  |  demographics 

...  types of coverage and how insurance works. Comprehending risk: understanding uncertain financial outcomes. Go-to information sources: recognizing appropriate sources and advice. Source: TIAA...

Many Americans Still Lack Critical Financial Knowledge

2021-04-05 12:00:05  |  consumers 

...  coverage and how insurance works. Comprehending risk: understanding uncertain financial outcomes. Go-to information sources: recognizing appropriate sources and advice. Source: TIAA Institute...

Millennials More Likely To Have Emotional Connection To Their Home

2021-03-30 12:09:00  |  housing 

... s say the economic volatility of the past year has made them doubtful about the future of their home and their ability to invest in it, compared to only 28% Gen X and 5% Boomers. Of the millennials who refinanced or thought about refinancing their homes last year, 37% did so to cover other life expenses and 31% did it to help pay down debts elsewhere — 15% did it because they couldn't make the mortgage payments. One in three (37%) millennials say that the COVID-19 pandemic has made them consider moving, with the biggest reason being needing more space (14%) followed swiftly by reducing l...

Black and African American Investors Signal Brighter Outlook Ahead

2021-03-30 12:00:02  |  economy demographics 

... k and African American investors vs. 78% of all investors). By contrast, far fewer Black and African American investors reported that their own parents provided a lot or a fair amount of financial education to them growing up (33%). And despite doing more than their parents to educate their own children on finances, 41% of Black and African American investors think they should have provided more financial education to their children. “The idea of closing the wealth gap is important to Black and African American parents who invest,” said Dawkins. “They know that income and wealth...

Most Americans Reporting Greater Financial Confidence Than A Year Ago

2021-01-11 18:00:00  |  pandemic spending 

... so, 71% are spending less money on discretionary items—including travel, dining, and entertainment—which could be out of choice or necessity. Among those spending less, 14% say they are borrowing money from family or friends to help. There are a wide range of factors that influence how Americans' are finding their financial resiliency, with the top response being a good night's sleep. The top three responses for feeling more financially resilient during the pandemic are getting enough sleep (38%), having access to financial information (36%) and using digital banking tools (35%). Whe...

Credit Access Survey Shows Plunge in Credit Demand and Access

2020-12-21  |  credit cards mortgages borrowing 

... in 2020, expected rejection rates for other types of credit applications are not unusually high by historical standards. Detailed results are available here. Source: New York Federal Reserve...