Quicker Holiday Pay Offs
December 19, 2007
A recent survey conducted by the Financial Services Roundtable found that nearly 75 percent of Americans are planning to pay off their holiday debt within a period of ninety days.
The survey also found a surprise find in that over fifty percent of those taking the survey said they were using cash or their bank debit cards to fund their holiday shopping purchases.
“There was speculation that consumers weren’t going to do a lot of spending this year, and there’s the constant worry … that consumers weren’t prepared to manage their spending,” said Steve Bartlett, chief executive of the roundtable. “We found neither of those to be true.”
According to Bartlett, the same survey showed that nearly fifty percent plan of those taking the survey planned to spend the same amount online this year as they did last year. A full nineteen percent said they planned to spend more.
The survey did not ask those taking it if they planned to increase their overall holiday spending.
The Roundtable survey was taken the week before the Thanksgiving holiday on November 22 and it surveyed 1,000 consumers across the nation.
Financial Services Roundtable represents 100 financial services companies providing banking, insurance and investment products and services