Personal Finance

Despite being criticized as being impersonal gift options, gift cards continue to rise in popularity.   In fact, gifts care are increasingly expected and eagerly used, especially among "older" millennial adults, according to “Prepaid and Gift Cards in the U.S., 5th Edition,” a report from market research firm Packaged Facts.  

The wealthiest segment of the U.S. population is cutting back a little this holiday season.      

Walmart has added to its financial service offerings with a new savings program.   The program, called “Prize Savers,” is a prize-linked savings incentive program available to holders of Walmart MoneyCard, the chain’s branded reloadable pre-paid debit cards, the Associated Press reported.  

Forty percent of U.S. consumers plan to spend more this year than during the 2015 holiday shopping season, driven by better job prospects and an improving economy.     That’s one of the findings of the A.T. Kearney 2016 Holiday Shopping Survey, which was conducted online from Oct. 24 – Oct. 25, 2016.   

Because of the tone and tenor of the presidential campaign, lots of folks might be surprised to learn there are many other significant races going on across the country. These so-called “down-ballot” elections for governors’ offices, U.S. House and Senate seats, state legislatures and other offices may hold the real clues for what the next four years entail for employers, no matter who wins the White House. Believe it or not, there are substantive candidates actually discussing substantive kitchen table issues that impact families and communities.

Shoppers are opening their pocketbooks for back-to-school spending this year.   Parents expect to spend an average of $1,642 on back-to-school expenses this year, up significantly from $1,239 in 2015, according to the American Express Spending & Saving Tracker report.   Parents are expected to spend more on musical instruments this ($267 vs. $194 in 2015), along with mobile devices ($172 vs. $125 in 2015).   

Not even a political slug fest can shake the current consumer. The latest Nielsen Consumer Confidence Index showed that consumer confidence in the U.S. is on the rise, despite the uncertainty and starkly contrasting rhetoric around key economic issues.   Per the Index, Americans remained optimistic in the second quarter with a three-point confidence increase to 113. In contrast, the global consumer confidence index for the same period was flat at 98.   Other U.S. highlights include: