About admin

Posts by admin:

New Survey Shows 81 Percent of Americans Trust Their Primary Financial Institution, Despite Current Economy

Posted by admin on May 19, 2014 in Liibertarian |

Chicago, IL (PRWEB) March 9, 2009

Global market research firm Synovate today released results showing that while Americans’ economic fears continue, there are some institutions they still trust, particularly their own primary bank, credit unions and community banks.

To gauge how Americans are feeling about their money in the current economy, Synovate asked 1,000 people about their attitudes towards their personal financial situation; their biggest financial fears; which financial activities they plan to start or stop in the next six months; and where they get their financial information.

More than half (57%) of respondents believe the economy will continue to get worse before it gets better while one-third think the economy has already hit rock bottom but that recovery will take more than a year. Even though the Dow Jones Industrial Index closed at a low 7,366 on the day of the survey (February 23), respondents predicted that the Dow will be even lower – their answers averaged 6,922 – six months from now. Their predictions have already come true, with the Dow closing at 6,626 on March 6.

“When 90% of the US population believes it will take at least a year for things to turn around, a short term solution to our economic woes does not look like it’s anywhere on the horizon,” said Claire Braverman, Senior Vice President and head of Synovate’s Financial Services Group in North America. “If consumers are that negative about the future, there is little chance they will voluntarily take the necessary steps to jump start the economy by spending. They will need incentives to do so.”

Not surprisingly, consumers have little faith in financial institutions, particularly mortgage lenders and brokerage / investment firms. Around three quarters of the survey respondents said that they have little or no trust in these types of companies.

And yet, there is a bright spot. At the micro level, consumers do overwhelmingly trust their own primary bank, regardless of the type of institution it is (81%). They also trust credit unions (71%) and community banks (68%).

“Financial institutions that can maintain trust and loyalty through this economic crisis will be the ones still standing when the economy recovers,” said Elliot Savitzky, Vice President of Synovate’s Financial Services Group. “Consumers don’t even trust professional advisors to give them advice on their investments – 64% say they have little or no trust in them – and more people say they prefer to turn to a family member, friend or colleague (32%) versus a professional (25%) for financial advice.”

When asked what individual Americans can do, if anything, to help the economy get back on track, respondents said ‘buy American made products’ (47%) and ‘cut spending and increase savings’ (29%). A more gloomy one-third (32%) said there’s nothing individuals can do – that it’s up to the government or Corporate America to get the economy back on track.

People are obviously fearful about their own personal economic situations. Interestingly, the number one concern (59%) is that they will not have enough money for an emergency, followed by losing money on their investments (38%), losing their jobs (37%) and not being able to pay the rent or mortgage (35%).

Fifty-one percent also say they’re worse off financially than they were a year ago while only 14% say they’re doing better financially now.

In order to address their fears, over the next six months people are planning to hedge their bets by either looking for another / better job (31%) or cutting their spending. Additionally:


19% say they will increase their emergency cash reserves
18% will close a credit card account
17% expect to pull from their emergency cash reserves
16% plan to switch to safer investments

“Some individuals are risking the security of their future for short term savings,” said Savitzky. “They’re cutting their retirement contributions, taking money out of retirement savings, or stopping payment on their life insurance premiums and long term care insurance. They think these things are ‘nice to haves’ rather than ‘need to haves’ at this critical juncture and are adjusting their budgets accordingly.”

About one quarter of consumers (24%) don’t know what to do with their finances or feel paralyzed by the crisis so they don’t plan to do anything differently over the next six months.

The survey was conducted by Synovate’s Financial Services Group via the company’s Omnibus service with a nationally representative sample of 1,000 adults ages 18+ in the US on February 23, 2009.

About Synovate:

Synovate, the market research arm of Aegis Group plc, generates consumer insights that drive competitive marketing solutions. The network provides clients with cohesive global support and a comprehensive suite of research solutions. Synovate employs over 6,000 staff across 62 countries.

For more information on Synovate visit http://www.synovate.com.

###







Related Cut Governement Spending Press Releases

Tags: , , , , , , , , , , ,

Quick Medical Posts Record Sales During Economic Downturn

Posted by admin on May 17, 2014 in Liibertarian |

Snoqualmie, WA (PRWEB) March 10, 2009 The foundation of Quick Medical’s success can be attributed to their knowledgeable sales staff and aggressive marketing campaigns. In a time when companies are cutting back on sales staff and reducing marketing efforts, Quick Medical continues to fund aggressive sales and marketing promotions. “In good or bad economic […]

Tags: , , , , , , ,

GI Solutions Group Extends Print and Communications Solutions for Central and Local Government, Health Services, Education, Emergency Services and Other Public Service Sectors

Posted by admin on May 15, 2014 in Liibertarian |

London, UK (PRWEB) March 14, 2009 The drive for efficiency in the public services continues to mount. However, in some areas of the public sector quick and easy wins for organisations looking to save money are being ignored. In order to help public service organisations take advantage of cost saving processes, communications specialist GI Solutions […]

Tags: , , , , , , , , , , , , , ,

npower Urges Businesses to Act Now in Order to Profit From Emissions Reduction

Posted by admin on May 13, 2014 in Liibertarian |

Worcester, UK (PRWEB) March 15, 2009 Npower has commissioned a new white paper which reveals that businesses that make emissions reduction a board level priority can reap the rewards of a low carbon Britain. The newly published white paper, UK Climate Policy for Business, was commissioned by npower (http://www.npower.com/businessenergy ) from the London School […]

Tags: , , , , , , ,

PC Recycler Gets Federal Contract for Data Destruction Services – Onsite Shredding and Degaussing

Posted by admin on May 11, 2014 in Liibertarian |

Chantilly, VA (PRWEB) March 16, 2009 Today PC Recycler, a nationally-recognized data destruction and computer recycling firm for government and businesses, announced its award of contract by the General Services Administration (GSA), the procurement arm of the United States Federal government. The contract was granted under a multiple award schedule 36 to cover offsite and […]

Tags: , , , , , , , , ,

Telecom Audits Hit Home as Companies Struggle to Reduce Costs

Posted by admin on May 9, 2014 in Liibertarian |

Framingham, MA (PRWEB) March 17, 2009 In today’s challenging economic climate, more and more companies are being pressed to find ways to reduce costs and maximize staff efficiencies. With telecom costs topping the list of corporate expenses, many executives are turning to telecom cost reduction strategies to find immediate ways to drive down costs. As […]

Tags: , , , , , ,

Sonya Dakar Announces Launch of Beauty Boot Camp Supplement Collection Where Beauty Always Starts From The Inside

Posted by admin on May 7, 2014 in Liibertarian |

Los Angeles (PRWEB) March 23, 2009 Sonya Dakar’s Beauty Boot Camp Collection will be launching May 2009. The exclusive, FDA approved line of supplements will achieve full body health, vitality and harmony. The collection has extraordinary and proven standout results compared to others. These benefits include HIGH bio-availability, allowing the body to absorb nutrients immediately, […]

Tags: , , , , , , , , , , , ,

VISTAtsi Honored as Finalist for the 2009 Helios HR Apollo Awards

Posted by admin on May 4, 2014 in Liibertarian |

Herndon, VA (PRWEB) March 24, 2009 VISTA Technology Services, Inc. (VISTAtsi) announced today that it has been named as a finalist in the 2009 Helios HR Apollo Awards. The Apollo Awards, presented by Helios HR, recognizes Washington-area organizations that promote employee development. “We had a tremendous increase in nominations this year, ” said Kathy […]

Tags: , , , , , ,

COBRA-Answers.com Addresses Consumer Concerns Over COBRA Legislation

Posted by admin on May 2, 2014 in Liibertarian |

San Francisco, CA (PRWEB) March 26, 2009 With new COBRA legislation passed and unemployment numbers continuing to rise, consumers are searching for answers about COBRA benefits and the new stimulus package. The new COBRA subsidy, part of the American Recovery and Reinvestment Act (ARRA), seeks to temporarily alleviate the high cost of maintaining an employer-provided […]

Tags: , , , , , ,

Love Humanity Launches Common Sense Parenting

Posted by admin on April 30, 2014 in Liibertarian |

New Delhi, India (PRWEB) March 28, 2009 – Love Humanity International (LHI) and Pentagon Press (PP) together launched the book, Common Sense Parenting, in English nationally and in Hindi nationally and internationally from Nehru Memorial Museum & Library – Teen Murti House on March 26th. Other CSP course materials in both languages were also launched […]

Tags: , , , , , , , , ,

Copyright © 2011-2017 TIme For A Big Change All rights reserved.
This site is using the Desk Mess Mirrored theme, v2.5, from BuyNowShop.com.