Financial Tidbits 03/05/2013

 Forbes released its annual list of billionaires worldwide and the top 5 in order are: Carlos Slim ($73B); Bill Gates ($67B); Amancio Ortega ($57B); Warren Buffet ($53.5B) and Larry Ellison ($43B).

The Labor Department reports people earning in the top 20% account for 38% of all consumer spending, almost as much as the bottom 60% of earners combined.

The WSJ reports app stores run by Apple and Google now offer more than 700k apps each, as revenues reach $25B.

CNBC reports 24% of people have more credit card debt than savings and 16% say they have no credit card debt but also no savings. The good news – 55% of people have an emergency fund that is greater than their credit card debt.

The Fed has released a report showing 35% of those with student loans under 30Ys of age were at least 90 days late on their payments as of the end of 2012, up from 26% in 2008 and 21% in 2004. Overall, 40% of students owe less than $10,000, while 47% owe between $10,000 and $50,000 (up from 38% in 2005).

A JD Power survey finds 67% of consumers have used a company social media sites to obtain service and get questions answered.

Analysts say the expiration of the payroll tax cuts have reduced employee pay by 2%, causing about 46% of consumers to cut back on spending (according to a survey by the National Retail Federation). The survey also found 33% of consumers have cut back on eating at restaurants, 25% are delaying big-ticket purchases and 20% are spending less on groceries.

Link – Architectural Billings Up.

Interpretive Center

Interpretive Center (Photo credit: Nomadic Lass)


Branch Manager that has worked in the small to medium sized business lending field. I have experience in all types commercial lending and I'm here to provide insights from a lender's point of view. I hope to impart some knowledge that can take your business or profession to the next level. I currently work as a Branch Manager at the 10th & Bannock Office for Banner Bank in Boise, Idaho.

Tagged with: , , ,
Posted in Business, Consumer, Credit, credit card, Customers, Debt, Driven, Economy, Education, Finances, Google, Loan, Money, Wall Street Journal

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Enter your email address to subscribe to my blog and receive notifications of new posts by email.

Best Of…
%d bloggers like this: