Many people are trying to cut their spending.

Many people are trying to cut their spending.

Financial strategies can be quite difficult to set up, especially during the holiday season, but there may be more people looking to take on the challenge.

Close to 40 percent of Americans noted that they will make an effort to cut their holiday spending, according to a report from Bankrate.com. Less than 15 percent think they will use more money during the holiday season, and 47 percent won’t change their holiday spending strategy at all.

“Many Americans continue to struggle with little or no savings and stagnant wages, forcing them to rein in their spending this holiday season,” said Greg McBride, senior financial analyst for Bankrate.com. “Overall, Americans are feeling more financially secure after the government shutdown and debt ceiling saga were resolved, but many are still clutching their pocketbooks closely.”

Many people are also feeling better about their financial situation overall. The report noted that financial sentiment rose to a level in December that had not been seen since August. There was just one aspect of negativity that was constant in the past three years of the poll, as many people are still not happy with their personal spending.

Close to one-quarter of Americans noted that their financial position is in a better spot than in 2012, the report said. Another 18 percent said that it was in a worse situation.

Further saving efforts underway
Cutting spending during the holidays can be done in many different ways, and Americans are looking at more options.

Approximately half of all individuals want to have more simplified credit card rewards, according to a report from Capital One. A total of 49 percent of those polled noted that getting cash as their rewards was the most important thing.

“We’re seeing that more and more people want rewards that are easy-to-use and give them meaningful value,” said Amy Lenander, vice president of rewards programs at Capital One. “Especially during the busy holiday season, shoppers have more important things to do than navigate complicated rewards cards with rotating bonus categories and spend thresholds or caps. We offer cards that make it easy for our customers to earn and use great rewards so that they can focus on what matters most to them.”

Nearly 50 percent of those polled noted that they aim to use their rewards at a retailer that offers discounts, the report added. Another 80 percent will look to the Internet to save money.

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