Financial Tidbits 05/23/2013

About 56% more small business owners sold their businesses to someone else in Q1 vs. the same period last year, according to analysis by BizBuySell.com. 

Harvard reports home improvement spending climbed 9% in 2012 vs. the prior year.

A survey by Vanguard finds about 33% of people ages 25 to 34 do not save anything in their 401(k). 

The Census Bureau reports small businesses operated by a single person represent more than 70% of all companies in the US.

Ellie Mae indicates mortgage payments including taxes and insurance should be no more than 28% of gross income for a borrower.

The latest data from the Fed finds credit card balances decreased 2.4% in Mar. vs. Feb.

The price of building supplies is up 9% over the past 3Ys. Plywood is up 34%, framing lumber has jumped 25% and insulation is up 18%.

An estimated $200B is expected to be loaded onto prepaid cards in the US this year, a 600% increase over the past 3Ys or so.

A study by Borrell Associates finds 75% of small business owners say the ability to target advertisements by customer location is important when it comes to mobile marketing campaigns.

A survey by the American Psychological Association (APA) finds more than 33% of workers experience chronic work stress. It also found contributing factors include low salaries, a lack of opportunity for advancement and heavy workloads.

Accenture finds 41% of workers who graduated from college in the past 2Ys say they are underemployed, as they are working in jobs that do not require their college degrees. What’s more, nearly 63% of those interviewed say they will need more training in order to get their desired job.

The National Association of Realtors reports vacation home sales climbed 10% in 2012 vs. 2011.

A survey by CNNMoney finds most people carry 1 or 2 credit cards (44%), followed by 3 to 5 (37%), more than 5 (16%) and 0 (3%). Meanwhile, the average card balance in 2012 was $1,688 vs. $1,952 in 2010.

The Department of Agriculture predicts a 25% decline in farm profits in 2014, as commodity prices flatten and exports decline.

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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.

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