Nearly 53 percent of adults spend more time managing their money
Foster City, CA – November 2, 2021 – MyBankTracker.com surveyed nearly 2,500 consumers to compare how much time they spend holiday shopping versus managing their money. The results are detailed in the new analysis: “Study: Do You Spend More Time on Holiday Shopping or Money Management?”
Do you spend more time holiday shopping than managing your money?
- About 33.5 million Americans* spend more time holiday shopping (13%)
- More than 34% spend the same amount of time on each
- Nearly 53% of Americans say they spend more time managing their money
- Millennials (25 to 34 years old) are the most likely to spend more time shopping (16.6%)
- Americans in the Northeast are the most likely to spend more time holiday shopping, while those on the West coast are the most likely to spend more time managing their money (16.6%; 57%)
- Female respondents are slightly more likely than men to spend more time holiday shopping (15.3% vs. 10.4%)
“It can be easy to overspend during the holidays, so try to set spending limits, watch for sales and monitor your bank account and credit card statements,” says Simon Zhen, MyBankTracker’s chief research analyst. “We understand this year may be more difficult than others with inflation and rising prices from supply chain issues, so planning ahead can yield significant savings.”
Those who want to streamline their money management process can schedule automatic payments for credit card and other bills and use digital tools to achieve saving and investing goals.
The study was conducted through Google Surveys on behalf of MyBankTracker from September 27, 2021 to October 22, 2021 with 2,475 respondents in the United States of ages 18 with a standard deviation of 4.5%.
*Based on survey findings applied to 2020 population estimates by the U.S. Census Bureau.
Zhen is available for comment and can provide insight on how to create a budget. He is a personal finance expert on consumer banking products, credit cards and more and can discuss the best savings options to beat inflation for consumers.
MyBankTracker is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. MyBankTracker is a member of QuinStreet’s expert research and publishing division.
MyBankTracker is an independent comparison website helping consumers make smart banking and financial decisions. The mission is to match consumers to their perfect bank by providing and tracking in-depth information on more than 5,000 banks, credit unions and financial products. Using a combination of technology and money management expertise, MBT provides personal finance comparison tools and educates consumers to optimize their relationships with banks and lenders.
Senior Manager, Public Relations