The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Capital One Survey Reveals Holiday Shoppers Are Buying With Cash Or Debit

Tuesday, December 18, 2012

Capital One Survey Reveals Holiday Shoppers Are Buying With Cash Or Debit14:10 EST Tuesday, December 18, 2012More than Half of Americans Also Plan To Make 2013 the Year to SaveWILMINGTON, Del., Dec. 18, 2012 /PRNewswire/ -- A new year, a new financial outlook. What better way to end 2012 and kick off 2013 than by having an action plan to get your savings in high gear and build that nest egg you've longed for as much as getting into your skinny jeans. According to the fourth annual holiday shopping survey from ING DIRECT (to be rebranded Capital One 360 in 2013), Americans are looking to cross one New Year's resolution off their lists by being cash conscious with their holiday shopping. More than three out of four Americans are purchasing gifts with cash or a debit card this year and more than three out of five (63 percent) Americans are spending the same on holiday gifts as they did last year.(Logo: )Fattening up your Wallet in 2013As the time honored tradition of making aspirational resolutions approaches, 70 percent of Americans ages 18 to 34, say they will start saving more when the calendar turns to welcome the New Year. Overall, nearly half (49 percent) of respondents are going to kick-start savings plans. "This year's holiday shopper is taking the smartest approach to gift buying by sticking to what they can afford and positioning themselves for a worry-free start to 2013," said Jim Kelly, Head of Direct Bank, Capital One. "Even better, people are making their financial resolutions before or during the shopping season. Recognizing the invaluable benefits of proper budgeting is critical and by focusing on savings, consumers can boast a fresh slate and achieve the financial freedom they resolve to achieve in the New Year."According to respondents who are making financial resolutions, 38 percent plan on investing more for retirement and 33 percent will reduce or eliminate credit card debt in 2013. The Orange Savings AccountSM and Kids Savings Account have tools that help Customers plan and save for such goals:My Savings Goals:  Customers can easily articulate their New Year's saving aspirations by creating customized nicknames for each goal they set up. Automatic Savings Plan:  Set it and forget it. Customers can maximize their savings by having a fixed amount of money regularly transferred to any of their accounts.With a positive savings forecast for 2013, 73 percent of Americans are planning on saving more than in previous years. In addition, 60 percent will start the year debt-free from the holiday spending season. By focusing on spending less and building up an emergency fund, the year ahead for these savvy Americans should make their next twelve months comfortable and financially sound. About the SurveyThe national survey, fielded by ING DIRECT for a fourth consecutive year, was conducted within the United States using ORC International's CARAVAN Omnibus survey on November 23-25, 2012 among 1,000 adults using both landline and mobile telephones. The margin of error for the survey is +/-0 3 percent.About Capital OneCapital One Financial Corporation ( is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., had $213.3 billion in deposits and $302.0 billion in total assets outstanding as of September 30, 2012. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. ING DIRECT, a division of Capital One, N.A., offers direct banking products and services to customers nationwide.  A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.ING DIRECT is now a division of Capital One, N.A. ING Bank, fsb, and its subsidiaries, including ShareBuilder Corporation, have been acquired by Capital One. The trademarks ING, ING DIRECT, ING Lion, and the ING Lion logo, alone or as a part of any trademark, logo, work or domain name are trademarks of ING and are used by permission.MEDIA CONTACT:Laura DiLello(302) 467-6449ldilello@ingdirect.comSOURCE ING DIRECT