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Diamonds may be a girl’s best friend, but spending less and saving more money is of great importance to the majority of women across the U.S. How consumers feel about money (spending it or not spending it) can help industries across America forecast sales and production, especially small and medium size businesses that can more easily recalibrate priorities after reviewing a quick snapshot of the market. This month’s eNation survey focuses on America’s financial footing. Find out more about how consumers are planning to spend their money in 2013.
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MAKING SENSE OF YOUR MONEY MARCH 2013Diamonds may be a girl’s best friend, but spending less and saving more money is of great importance to the majority of women across the U.S., especially those between of the ages of 35-55.
How consumers feel about money (spending it or not spending it) can help industries across America forecast sales and production, especially small and medium size businesses that can more easily recalibrate priorities after reviewing a quick snapshot of the market.
This month’s eNation survey focused on America’s financial footing. Conducted in February 2013, the results found that almost half of Americans say they would like to both, spend less and save more money. This is especially true for women, those over 35 years of age and among married households. Only about one in seven said they have no wish to change their savings or spending in 2013, however, those over 55 years of age appear to be least likely to change their saving or spending this year.
For Americans who have set specific financial goals for 2013, most (69%) also indicated they have a financial plan to accomplish their goals. Interestingly, Americans with children are far more likely to set financial goals.
Which one of the following statements best describes your financial wish for 2013?
TotalGender Age Household
IncomeChildren in Household Married
Male Female 18-34 35-54 55+ <$50K $50K+ Yes No Yes No
To both spend less and save more
46 41 50 38 51 47 45 47 48 45 49 42
To save more money 29 32 26 41 29 17 30 28 33 27 26 32
Will not change saving or spending in 2013
15 16 14 9 13 23 15 15 9 17 14 16
To spend less money 10 10 10 12 7 13 11 10 10 10 10 10
Have you set any specific financial goals for 2013?
TotalGender Age Household
IncomeChildren in Household Married
Male Female 18-34 35-54 55+ <$50K $50K+ Yes No Yes No
Yes 37 38 35 43 38 29 34 39 48 33 36 38
No 63 62 65 57 62 71 66 61 52 67 64 62
If yes, have you made a financial plan for reaching your 2013 goals?
Yes 69 73 65 68 71 68 65 72 70 69 69 69
No 31 27 35 32 29 32 35 28 30 31 31 31
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Part of a good financial plan includes saving for a rainy day. Most Americans (44%) are putting away money monthly as part of an emergency fund, as well as saving for a trip/vacation, retirement, home improvements and automotive. Those households with children are especially likely to save monthly for an emergency fund.
The financial goals of the average American appear to require at least $27,800 in order to meet everything on their 2013 wish list. Higher income households and those married said they needed more to meet their 2013 savings wish.
Which of the following areas do you want to save for on a monthly basis this year?
TotalGender Age Household
IncomeChildren in Household Married
Male Female 18-34 35-54 55+ <$50K $50K+ Yes No Yes No
Emergency fund 44 42 46 47 48 37 48 41 52 42 44 45
Trip/vacation 36 34 39 35 37 36 29 41 37 36 40 32
Retirement 28 26 30 23 38 21 16 37 32 27 35 20
Home improvement 23 20 26 22 23 25 17 28 28 22 30 15
Automotive 20 22 18 25 20 15 22 18 20 20 18 22
Other major purchase 13 12 13 14 13 12 14 12 11 14 12 14
College fund 13 13 13 22 14 3 9 16 30 8 15 11
Home purchase 12 15 9 22 11 4 12 12 20 10 12 12
None of the above 15 17 14 12 13 22 19 13 10 17 15 16
If you were going to Las Vegas tomorrow, how much would you have to win to meet your 2013 financial savings wish list?
TotalGender Age Household
IncomeChildren in Household Married
Male Female 18-34 35-54 55+ <$50K $50K+ Yes No Yes No
0 to less than $5,000 23 22 23 20 20 30 25 21 14 25 21 24
$5,000 -$15,000 25 23 23 26 29 17 29 20 29 23 22 28
$15,001- $50,000 29 30 30 36 25 29 28 33 35 29 32 28
Over $50,000 23 22 24 18 26 24 18 26 22 23 25 20
Mean 27.8 27.3 28.3 25.7 29.8 27.6 23.6 31 29.1 27.5 30.2 24.9
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MAKING SENSE OF YOUR MONEY
Because eNation is fielded seven days a week,
you can measure public opinion and consumer attitudes any
time - quickly and affordably.
MethodologyEach week Ipsos U.S. eNation online omnibus completes five national online surveys. Each survey (wave of eNation) consists of a minimum of 1,000 completes with adults 18 years of age or older in the contiguous U.S.A. The sample consists of individuals selected from the online segment of Ipsos’ iSay/Ampario Panel, and is balanced to be representative of the general population based upon region, gender, age, and household income data from the U.S. Census Bureau. The selected individuals receive a customized e-mail inviting them to participate.
Ipsos U.S. eNation online omnibus survey results are tabulated by two standard demographic banners.
A. GENDER, AGE, HOUSEHOLD INCOME, REGION
B. CHILD IN HOUSEHOLD, EDUCATION, EMPLOYMENT STATUS, MARTIAL STATUS, RACE
eNation’s standard data tabulations are provided in a weighted format. The data are weighted to give appropriate representation on various demographic factors, including: age, income, the four national census regions, and gender. The Current Population Survey from the U.S. Census Bureau is used to determine the weighting targets for each demographic factor.
To request complimentary access to this study, or to learn more about eNation, please contact us.
Ipsos Public AffairsIpsos Public Affairs is a non-partisan, objective, survey-based research practice made up of seasoned professionals. We conduct strategic research initiatives for a diverse number of American and international organizations, based not only on public opinion research, but elite stakeholder, corporate, and media opinion research.
Ipsos has media partnerships with the most prestigious news organizations around the world. Ipsos Public Affairs is the international polling agency of record for Reuters News, the world’s leading source of intelligent information for businesses and professionals, and the Hispanic polling partner of Telemundo Communications Group, a division of NBC Universal providing Spanish-language content to U.S. Hispanics and audiences around the world.
Ipsos Public Affairs is a member of the Ipsos Group, a leading global survey-based market research company. We provide boutique-style customer service and work closely with our clients, while also undertaking global research.
To learn more, visit: www.ipsos-na.com
Paul Abbate
Senior Vice President Ipsos Public Affairs 617.526.0042 [email protected]
Chris Deeney
Senior Vice President Ipsos Public Affairs 630.526.4080 [email protected]
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