Quantcast
Get breaking news alerts via email

Click here to manage your alerts
(Jeremy Harmon | Tribune file photo) Shoppers pack the shoe aisle at JC Penney Valley Fair Mall location in West Valley on Thanksgiving Day 2013. A new report says a majority of U.S. households spent about what they expected during the holiday season.
Families spent about the same on holidays as last year
First Published Jan 13 2014 03:06 pm • Last Updated Jan 14 2014 07:25 am

Did you spend more or less than you budgeted for holiday shopping in 2013?

According to a new Bankrate.com report, 57 percent of American households spent about what they expected during the recently completed season, while 14 percent spent more and 26 percent spent less than they expected.

Photos
Join the Discussion
Post a Comment

The only group that was more inclined to spend more was the highest-income group, defined in the survey as those with annual household incomes of $75,000 or more.

What do the results of the study say about the American economy?

"The U.S. economy has definitely carried some momentum into 2014, but it’s still a slow-growth economy with high unemployment and stagnant household income," said Greg McBride, Bankrate.com’s senior financial analyst. "Consider that the economy has hit a rough patch each year of the recovery, usually in the first half of the year, and has underperformed the Fed’s estimates year-in and year-out. I expect similar results in 2014."

According to Bankrate.com’s latest Financial Security Index results, consumers may be slightly more upbeat this year. The Index hit a seven-month high in January with the most prominent areas of improvement including consumers’ comfort levels with debt and feelings about their overall financial situations.

Consumers were more optimistic on four of the Index’s five components including debt, overall financial situation, job security and net worth. Most had negative feelings about their savings.

The most pessimistic sectors were senior citizens ages 65 or older and the lowest-income households making under $30,000 annually. Bankrate.com reported that they were more likely than other age groups to say their financial situation was worse this year than last.

wharton@sltrib.com

Twitter: @tribtomwharton


story continues below



Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Login to the Electronic Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.