Credit Card News

Advertising Disclosure is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Expectations Dictate Consumer Spending Habits

Expectations Dictate Consumer Spending Habits

Add to Favorites:
Expectations Dictate Consumer Spending Habits

Everything from how much people will be saving or spending to how much debt they will be paying down can be traced to whether they believe we will have an economic upswing or downturn in the coming year.

According to a Harris Poll conducted in December, when it comes to whether the economy will be better or worse this year, 44% of Americans expect it to stay the same, while a third think it’s going to get worse and 24% are looking for an upswing.

With most people believe the economy won’t shift much, it’s important to note that the number of people expecting a downturn has gone up when compared to last year going from 23% in Dec 2014 to 32% in Dec 2015.

People who feel that things are going to get better for their family financially over the next six months, more often than not are thinking about upping their financial goals. What goals are they mulling over? First, 57% believe that they will be saving more, up significantly from those who think the economy might stay the same, or even tank a bit or a lot. Just 36% of people who believe things won’t change much will be saving, and 30% of those expecting a downturn will be socking away some cash.

Predictable spending and saving

As you may expect, of those expecting a downturn many say they will be reining in their spending, while those looking for an economic upswing indicate that they are gearing up to save more this year.

What about debt? Well, half of those expecting things to get better will looking to make a dent in their debt, by paying it down. While 35% of those expecting their fiscal status quo to stay the same will be paying it down.

Retirement saving is up among those positive thinkers, and as you may well expect, their more negative counterparts will be saving less for their golden years. Home improvements designed to up home values in the real estate market follows the same trend.

The Harris Poll was conducted online from December 9 to 14, 2015, with 2,255 adults in the U.S.

Add to Favorites:

Related News:

U.S Finance Executives Give The U.S Economy A Thumbs Up

By Dar Dowling, Posted: March 10, 2016

With the stock market ups and downs and concerns about oil production helping make the global economy challenging in some respects, U.S Finance executives are optimistic about the U.S economy, with their confidence levels holding at 65% ... Continue reading
Synchrony Financial Grant for the NFCC

By Dar Dowling, Posted: January 19, 2016

Synchrony Financial is giving the National Foundation for Credit Counseling (NFCC) a grant totaling $4 million. Continue reading
Synchrony Financial Inking a Deal with P.C. Richard & Son

By Dar Dowling, Posted: February 10, 2016

Financing computers, entertainment systems and other kinds of electronics is a priority for many Americans, and in keeping with this trend P.C. Richard & Son has signed a multi-year credit card extension with Synchrony Financial. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Unlimited 1.5x rewards on every purchase, every day. For every $1 you spend, you earn 1.5x Miles.
For Excellent, Good Credit
Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
For Excellent, Good Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit