Credit union members and others will cling to their savings habits well into 2010, according to a company that tracks direct mail credit card efforts.
Mintel Comperemedia reported that its recent surveys of consumers, combined with an analysis of data from the Federal Reserve, suggests that Americans are self-consciously saving move and will continue to do so into the future.
"Our recent consumer surveys points to a changed mindset for consumers," stated Susan Menke, behavioral economist for Mintel. "The recession left people feeling shaken and vulnerable, wary of previous years' spending binges and craving a more conservative approach to money. We expect that thrifty, save-for-a-rainy-day mentality to continue next year."
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