Women and Financial Management: Social & Economic Change
The evolution of the internet has led to increased transparency of financial services and is empowering women to make banking decisions through research, comparison shopping and social interaction directly with banking sites, independent blogs and social networking groups. In the United Kingdom only 3% of adults in 1999 used the internet for banking, which has risen to 28% today and is estimated to reach 80% by 2020 based on the research by the “future foundation“, an Experian company. While research indicates women are becoming more dominant in personal and family household financial management, they are lagging behind the curve and have failed to adapt to using online financial products and investment advice. In particularly the “Consumer Focus Tech Savvy Study” found that females were less accepting in using the internet for financial products and investment advice with only 13% of respondents 18 to 24 years old and 17% of the 25 to 34 year-old group actively participating.
A research study “50 Years of Savings: Yesterday, Today & Tomorrow” conducted by the “future foundation” in the United Kingdom has identified trends that suggest that “more women are making the big money decisions and that women will have the final say in big financial decisions than men by 2057.” The study concluded that “when it comes to couple’s financial matters, the future of finance is female and as a consequence banks will require increased personal relationships with social interaction”. Women are significantly more likely to bring broader ‘values-led’ agendas to bear on consumption choices than men.
A finding in the report interestingly notes that the gender sexism of the ‘50s could be reversed as women become more qualified in financial matters, out-earn men and take on the lion’s share of domestic administration, we could see the “father knows best” attitude replaced with “mum knows best” as men surrender control of finances to their partners.
Financial Services target audience can be found “online”
Social Engine Marketing presents opportunities for marketers to target high potential consumers. American online financial product and service "shoppers" are younger and wealthier than ever; 58% aged 35 or older with annual incomes of $50,000 or more (64%), Harris Interactive. This target audience averages between 32-48% online activity for products ranging from home equity loans to credit cards. The study was based on a nationwide, online research and interviews carried out by iCrossing & Harris Interactive. Based on current trends, researchers have concluded that financial markets have the opportunity to engage and convert a highly attractive demographic and socioeconomic profile group through the use of search marketing.
Will the housing market bounce back after government interference?
Global Stocks Rise on Fannie, Freddie Takeover; Treasuries Drop. Stocks in Asia jumped this morning after the US goverment announced the takeover, but will the housing market will recover? What does this mean for homeowners?
Fifth Third Bank Launches $250,000 Sweepstakes
Fifth Third Bank is pleased to announce the launch of its Unlock Your Dreams* sweepstakes, which will award nearly $900,000 in sweepstakes and scratch off prizes. To participate, customers and non-customers alike may visit any of Fifth Third Bank’s nearly 1,300 branch locations between September 2, 2008 and October 31, 2008 to obtain a game piece. The game piece will reveal one of many instant offers including:ne-year term at the BAFT board of directors meeting in Washington, D.C. $10 MasterCard® Gift Card (no purchase necessary) 5,000 Bonus Rewards Points with a new Visa Signature Credit Card $50 deposit into a new Goal Setter Savings $50 off Direct Loan closing costs (excludes Fifth Third Equity Flexline) 5,300 Bonus Rewards Points with a new Fifth Third Equity Flexline $50 off Mortgage Loan Application Fee Additionally, each game piece will have a “code” that the participant can use to register online at 53unlockyourdreams.com for a chance to win the grand prize of $250,000 or one of 22 local $10,000 regional prizes distributed throughout the Bank’s 12-state footprint.
Bank of America Huddles NFL Fans and Challenges Them To Now Prove It
As the Official Bank of the National Football League, Bank of America is celebrating the 2008 season kick-off by issuing the Now Prove It™ challenge to fans in some of the most passionate football cities in the country. The Now Prove It challenge, taking place in the hometowns of the Carolina Panthers®, Dallas Cowboys®, New England Patriots® and Washington Redskins®, will test the limits of fans' loyalty in each of these four markets as they attempt to outlast fellow competitors by maintaining contact to a giant 20-foot inflatable team jersey. The last fan standing will be honored as their team's most dedicated supporter and win a pair of tickets to every 2008 regular season home game of their favorite team. Read full article here
Automatic Bill Pay Gotchas!
Ron Lieber of TheLedger.com reports on the troubles of automatic bill pay. Initially an advocate for automatic bill pay, he lists four gotchas that you should take into consideration. Briefly we've highlighted the key points below: Errors - A company could over-bill you and you'll be stuck with any overdraft fees, which could take months to get reimbursed. Issues with Canceling - Some technically deficient companies may not cancel the payments even after you've canceled their service. Expired Credit Cards - When your credit card expires, a company will still attempt charge you, but when declined, you're stuck with the bill and possibly late fees. Security - The more you spread your credit card across websites, the more likely it'll end up in the wrong hands. Read the full article here
Alumni Passion Runs Deep – Can It Be Channeled?
Bank of America Survey Finds Alums Take Pride in their Alma Mater, But May Be Uncertain How to Share That Passion Financially CHARLOTTE, N.C., Sept. 2 /PRNewswire/ -- American college alumni agree on one thing: college life rules. And with the kick-off of college football season, many of them feel nostalgic for days spent on campus. According to a recent survey commissioned by Bank of America, alumni are looking for a more hassle-free method to financially give back to their alma maters. With the introduction of Bank of America MyExpression™ Alumni checking, donations can be made to an alumni group of choice with every check card or credit card purchase.
Merrill Lynch, Morgan Stanley Battle Independent Brokerages For Wealthy Investors
U.S. Bank Acquires FBOP Corporation’s 9 Failed Banking Subsidiaries
Assessing the Impact of the FDIC’s Temporary Liquidity Guarantee Program
FDIC Chairman Shelia Bair on The State of American Banking – Summary and Analysis
Citibank Credit Card Interest Skyrockets In Anticipation of Federal Regulation
Commerce Bank of Southwest Florida Fails, Becomes 123 Bank to Close in 2009
ING Direct Black Friday Special: Save ‘Til You Drop
Savers Left With Fewer Options as Hudson City Savings Lowers Top CD Rates
Wells Fargo Settles $1.4 Billion Lawsuit Regarding Auction-Rate Securities
‘Too Big To Fail’ Firms May Be Broken Down To Smaller Size
