Wed, 03 February 2021 | employment vacation
Following a year where for many, every aspect of life – from work, school, daycare, and even vacation – was spent under one roof, in 2021 people worldwide are more determined than ever to use up all the vacation days they've earned. According to the annual Vacation Deprivation study from Expedia®, in 2021 Americans plan to take an extra week (five days) of vacation. With this new "no days left behind" mindset, Vacation Deprivation is well on its way to becoming a thing of the past.
Expedia first launched the annual study more than two decades ago to illustrate the benefits ... Read More
Tue, 02 February 2021 | housing
The housing market exceeded expectations in 2020, closing out the year with the highest annual home price gain since February 2014 in December at 9.2% according to the latest CoreLogic Home Price Index. Despite a blip in April, home-purchase demand surged as record-low mortgage rates persuaded first-time homebuyers to enter the market. Meanwhile, the consequences of the pandemic were seen in the dwindling supply of homes — dropping, on average, 24% below 2019 levels — as homeowners delayed selling. ... Read More
Tue, 02 February 2021 | pandemic retirement
According to a new survey from TD Bank, 1 in 10 American couples were furloughed, lost their job, or had their hours decreased as a result of COVID-19, forcing them to put off certain financial milestones. Despite a sharp decrease in large purchases due to economic uncertainty, the findings revealed that more couples are having conversations about money while they are at home. The survey polled 1,709 U.S. individuals who are married, in a committed relationship or divorced to better understand how they approach finances in their relationships.
Of the couples surveyed, 67% said t... Read More
Tue, 02 February 2021 | retirement
The latest Retirement Confidence Index from SimplyWise.com found that concerns over personal finances and savings remain high for all Americans. Yet certain populations, including seniors, people of color, and lower income Americans are disproportionately feeling the impact of the virus on their finances.
Key report findings included:
Mon, 01 February 2021 | banking
Today's consumer is very loyal to their bank, and holds onto their account for an average of 14 yearsi. At the same time, more than 40 million U.S. consumers have gone digital with their banking and a large percentage now have multiple accounts, presenting an opportunity for neobanks and digital banks to grow, simply by focusing their acquisition efforts on increasing share of banking (versus switchers).
These are among the actionable insights identified in new research from Meta Payments, a division of MetaBank®, N.A., and Visa®, The Digital Migration: Growing Share of Bankin... Read More
Mon, 01 February 2021 | economy
In its latest ten-year economic overview the Congressional Budget Office (CBO) projects that the economic expansion that began in mid-2020 will continue. Real GDP is projected to return to its prepandemic level in mid-2021. The number of people employed is projected to return to its prepandemic level in 2024.
The 2020–2021 coronavirus pandemic caused severe economic disruptions last year as households, governments, and businesses adopted a variety of mandatory and voluntary measures— collectively referred to here as social distancing—to limit in-person interactions that co... Read More
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation