(WHAS11) – With the economy still unstable and loans still difficult to come by, Americans faced many challenges in 2011. But what does 2012 hold? Good Morning Kentuckiana’s Andy Trienen takes a look in Tuesday’s Consumer Watch.
Most investors found 2011 pretty tough to handle so it is little surprise that Kiplinger's Personal Finance tagged stock market volatility as one of the year’s biggest factors impacting the wallets of Americans.
Kiplinger also says personal finance matters influenced how Americans spend and save money in these uncertain times. Some of these include rock-bottom mortgages, rising college tuition costs, and low returns on savings. These things make it challenging for Americans who are trying to put more money in the bank.
Kiplinger identified consumers fighting back as a trend of the year. The backlash against big banks made a statement in 2011 as consumers refused additional fees.
“…in 2012 we’ll see. But I think there’s been a shift – at least for the time being – in consumers’ mentality towards banks,” says a representative of Kiplinger's.
While some of the proposed fees never became a reality, some consumers took their money to credit unions, which is just one of the many signs indicating that Americans are watching their dollars more.