Personal Finance

New York -- A report released Monday by Ipsos found that affluent optimism in the U.S. economy rose significantly in February.

ARLINGTON, Va. — Consumer confidence in the overall economy and sentiment toward technology both fell again in February, according to the latest figures released by the Consumer Electronics Association.

The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, fell 2.7 points in February to 165.3. Consumer confidence in the overall economy declined for the second consecutive month.

Washington, D.C. -- Nearly three-quarters (73.3%) of consumers say their spending plans are taking a hit due to the recent payroll tax changes, according to NRF’s 2013 Tax Returns Survey conducted by BIGinsight.
 
When asked how the new federal tax laws have affected spending, saving or budgeting of their households, nearly six in 10 (58.2%) of those polled say their plans have been either somewhat or greatly impacted. Specifically, nearly half (45.7%) say they will spend less overall, and 35.6% will watch for sales more often.
 

McLean, Va. -- Capital One Financial Corp. said Tuesday that it will sell off its Best Buy portfolio of private-label and co-branded credit card accounts. Current loan balances total about $7 billion.

The pair is severing their ties earlier than expected – the break-even sale of the portfolio to Citi is expected to finalize in third quarter 2013.

New York -- Bad feelings about the global economy persist, with more than half of consumers around the world say the world is in an economic recession, according to a new study by Nielsen.

According to the Nielsen Global Survey of Consumer Confidence and Spending Intentions, 71% of North Americans said they were in a recession in the fourth-quarter of 2012, but this represented a drop in 15 percentage points from the fourth quarter 2011, representing the largest drop in negative sentiments about the economy of any area.

CHICAGO — Though a 2% increase in payroll tax may seem insignificant for middle- and upper-income families, it can cause a major change in shopping behavior for lower-income families, a new study has found.

Atlanta -- A report released Tuesday by First Data Corp. found that dollar volume growth rebounded in January, improving to 6.2% versus 4% in December despite the payroll tax increase.

The First Data SpendTrend report, which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, found that improved retail spending was a large contributor to the January growth.   

HOFFMAN ESTATES, Ill. — Kmart has partnered with Essence Magazine's finance expert, Tanisha Sykes, for the sixth-annual Share the Word campaign to provide financial empowerment to African-Americans.

"Financial empowerment is extremely important within the African-American community," Sykes said. "This year's Share the Word campaign will provide the tools, information and resources to help pave the road to financial success."