{"id":252899,"date":"2023-11-14T05:45:00","date_gmt":"2023-11-14T09:45:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-interest-rates-keep-rising-and-so-does-our-holiday-spending\/"},"modified":"2023-12-14T21:40:02","modified_gmt":"2023-12-15T01:40:02","slug":"las-tasas-de-interes-siguen-subiendo-al-igual-que-nuestros-gastos-navidenos","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/las-tasas-de-interes-siguen-subiendo-al-igual-que-nuestros-gastos-navidenos\/","title":{"rendered":"Interest Rates Keep Rising, and So Does Our Holiday Spending"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p>A new Consolidated Credit survey shows that more men will shop in-stores and the Hispanic community are prepared to buy responsibly.<\/p>\n<p><span class=\"xn-location\">FORT LAUDERDALE, Fla.<\/span>, <span class=\"xn-chron\">Nov. 14, 2023<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Inflation can&#8217;t stop it, and neither can credit card interest rates that are averaging 28%. Holiday shopping keeps rising every year. But <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4023812-1&amp;h=1012478310&amp;u=https%3A%2F%2Fwww.consolidatedcredit.org%2F&amp;a=Consolidated+Credit%27s\" target=\"_blank\" rel=\"nofollow\">Consolidated Credit&#8217;s<\/a>\u00a0annual holiday survey of 1,000 English and Spanish-speaking consumers reveals that some demographics are handling it better than others.<\/p>\n<p>For example, nearly 40% of English-speaking women and 35% of men carried no credit card debt and 79% pay off their credit card balances within their billing cycle, which is crucial to avoid paying those steep interest charges.<\/p>\n<p>&#8220;Holiday spending has trended upward since 2009 \u2013 from just over <span class=\"xn-money\">$500<\/span> per person to an expected average of <span class=\"xn-money\">$900<\/span> this season,&#8221; says <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4023812-1&amp;h=3198558243&amp;u=https%3A%2F%2Fwww.consolidatedcredit.org%2Fcertified-credit-experts%2Fapril-lewis-parks%2F&amp;a=April+Lewis-Parks\" target=\"_blank\" rel=\"nofollow\"><span class=\"xn-person\">April Lewis-Parks<\/span><\/a>, Consolidated Credit&#8217;s director of education.<\/p>\n<p>&#8220;That&#8217;s much higher than the rate of inflation and, most concerning, the rate of salary increases. That means more Americans going into debt. We have designed a free interactive <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4023812-1&amp;h=1260885873&amp;u=https%3A%2F%2Fwww.consolidatedcredit.org%2Fbudgeting-made-easy%2Fholiday-budget%2Fspending-planner%2F&amp;a=holiday+budgeting+planner\" target=\"_blank\" rel=\"nofollow\">holiday budgeting planner<\/a>\u00a0to help people stay on track.&#8221;<\/p>\n<p>If Lewis-Parks sees one bright spot, it&#8217;s Hispanic holiday shoppers. While 28% of English-speaking respondents said they plan to spend up to <span class=\"xn-money\">$1,000<\/span> this holiday season, only 13% of Spanish-speaking respondents said the same.<\/p>\n<p>Still, there&#8217;s a concern:\u00a0<\/p>\n<ul type=\"disc\">\n<li>Nearly 30% of the Hispanic respondents said that they carry a credit card balance of between <span class=\"xn-money\">$5,000<\/span> and <span class=\"xn-money\">$10,000<\/span><\/li>\n<li>22% carry balances between <span class=\"xn-money\">$10,000<\/span> to <span class=\"xn-money\">$20<\/span>,000\u00a0<\/li>\n<li>14% have over <span class=\"xn-money\">$20,000<\/span> in credit card debt<\/li>\n<\/ul>\n<p>&#8220;While the Hispanic community is spending less over the holidays, one reason is that they simply can&#8217;t afford to spend more,&#8221; Lewis-Parks said.\u00a0 A survey from the Consumer Financial Protection Bureau, &#8220;Making Ends Meet in 2022&#8221; reiterates that Hispanic consumers credit card debt increased substantially between <span class=\"xn-chron\">June 2021<\/span> and <span class=\"xn-chron\">September 2022<\/span>.<\/p>\n<p>This year&#8217;s Consolidated Credit holiday survey not only focused on how much consumers will spend, but <i>how<\/i>\u00a0they&#8217;ll spend:<\/p>\n<ul type=\"disc\">\n<li>Gen X will be the biggest spenders this holiday season \u00a0\u00a0\u00a0\u00a0<\/li>\n<li>Gen Z buys more clothes online than other items (33%)<\/li>\n<li>Males are more likely to shop in-store (51%)<\/li>\n<li>English-speaking shoppers make online purchases more frequently<\/li>\n<li>Most popular items to buy online for men are tech products (32% for English speakers and 42% for Spanish) while women prefer to buy household goods online (41% for English speakers and 47% for Spanish)<\/li>\n<\/ul>\n<p>About: Consolidated Credit is a non-profit organization, which has helped more than 10 million people overcome debt and financial challenges in 30 years. Their mission is to assist families throughout <span class=\"xn-location\">the United States<\/span> to end financial crises and solve money management issues through education and counseling.<\/p>\n<div id=\"prni_dvprnejpgfe69left\" dir=\"ltr\" style=\"width: 100%; text-align: left;\"><img decoding=\"async\" id=\"prnejpgfe69left\" title=\"Consolidated Credit, a non-profit organization, has helped more than 10 million people overcome debt and financial challenges in 28 years. Its mission is to assist families throughout the United States to end financial crises and solve money management issues through education and counseling.\" src=\"https:\/\/mma.prnewswire.com\/media\/1658381\/Consolidated_Credit_Logo.jpg\" alt=\"Consolidated Credit, a non-profit organization, has helped more than 10 million people overcome debt and financial challenges in 28 years. Its mission is to assist families throughout the United States to end financial crises and solve money management issues through education and counseling.\" align=\"middle\"\/><\/div>\n<p>Logo &#8211; <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4023812-1&amp;h=2488036269&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1658381%2FConsolidated_Credit_Logo.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1658381%2FConsolidated_Credit_Logo.jpg\" target=\"_blank\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/1658381\/Consolidated_Credit_Logo.jpg<\/a>\u00a0<\/p>\n<p>SOURCE  Consolidated Credit<\/p>\n<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p>A new Consolidated Credit survey shows that more men will shop in-stores and the Hispanic community are prepared to buy responsibly.<\/p>\n<p><span class=\"xn-location\">FORT LAUDERDALE, Fla.<\/span>, <span class=\"xn-chron\">Nov. 14, 2023<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Inflation can&#8217;t stop it, and neither can credit card interest rates that are averaging 28%. Holiday shopping keeps rising every year. But &lt;a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":252900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-252899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/252899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=252899"}],"version-history":[{"count":"1","href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/252899\/revisions"}],"predecessor-version":[{"id":252901,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/252899\/revisions\/252901"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/252900"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=252899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=252899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=252899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}