FNBO Direct Online Saving & Spending Survey

December 21, 2008

An FNBO Direct survey of online savings account customers found that money issues and debt were the top holiday stress.  Here are some of the results of the FNBO Direct survey:

  • 79% – Economy will impact their holiday spending
  • 67% – Still paying off holiday spending from last year
  • 33% – Money is biggest stress for the holiday season

Money Stress

We all know how stressful family gatherings, travel, and entertaining guests over the holidays can be, I know National Lampoons Christmas vacation is just a movie but I bet it hit home for a lot of people.

Despite the tensions and challenges of family issues over the holidays the largest group of respondents reported that money was the biggest source of stress.  Of course this didn’t come as a surprise given the current economy but I was surprised by the 67% of people who were still paying off last year’s holiday spending.

Savings Accounts

FNBO Direct reminds their customers that the best way to get a jump on avoiding holiday debt next year is to start a Christmas fund ahead of time.  Of course, saving money is one part of it but simply spending less is certainly another part of the solution.

While they suggest setting up direct deposit into an FNBO Direct online savings account, the most important point isn’t which bank you use, but rather the fact that you start saving early and don’t spend more than you save.

FNBODirectBestSavingsAccount

Ben

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Ben

Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn’t like the other kids… His addiction to personal finance has paid off for his family and now he’s helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.


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