Consumers Enter 2010 with Strong Financial Goals and a
Optimistic but Prudent Outlook
January 26, 2010 08:06 AM Eastern Time
NEW YORK--(EON: Enhanced Online News)--While January usually brings intentions to exercise more, lose weight and stop sm
survey found that this year consumers are most focused on their financial well-being, and are approaching the year with an optimistic
financial outlook. In fact, nine in ten (89%) of the general population have set a clear financial goal for the year and 83 percent have
strategy in place, with a goal of saving on average $14,000. This is an ambitious goal, given that it accounts for approximately 22 pe
The latest American Express Spending & Saving Tracker, the fifth in a monthly series, reports about consumers’ views about t
financial goals and intentions, and overall spending and saving trends. The research sample of 2,088 adults included the general U.S.
well as two subgroups – the affluent2 and young professionals3.
Building a financial nest
When it comes to saving, consumers are setting specific goals and the vast majority (83%) have a defined strategy in place to help r
On average, the general population would like to save $14,000 this year and over the next 30 days plans to sock away $1,200. Aff
professionals have equally impressive goals for the year, reporting that they plan to save on average $25,000, and $12,000 respecti
While a wishful 23 percent of consumers hope to win the lottery to hit their savings goal, most consumers have more practical strate
l More than half (54%) of the general population, 59 percent of affluents and 68 percent of young professionals will rely on pri
means for achieving their financial goals.
l There will be some paring back on the small luxuries in life to pad savings accounts – 30 percent of the general population an
young professionals will rein in extras such as “morning lattes and manicures.”
l Tax returns will play an especially important role in young professionals meeting their savings g