WASHINGTON, D.C. — According to the 12th Annual CFA-CUNA Holiday Spending Survey, more consumers are worried about their finances than those who are comfortable with their finances. The worry is directly attributed to the worst financial crisis facing America since The Great Depression. Many consumers reported that their finances are in worse shape than they were this time last year or the year before.
The survey was conducted nationally with 1,011 adults reporting between November 10th and November 13th. About 37 percent of those adults surveyed revealed that their financial situation was worse off than it was year ago, while 30 percent said that their financial situation had improved. About 41 percent of those adults surveyed said that they planned to spend less this year during the holiday shopping season.
It appears as the effects of the recent recession of 2008 are lingering and will continue to influence consumers in the near future.