Santander US’ Post

Very interesting and telling survey results interpreted by Tim Wennes about how consumers are doing in our current economic climate. Santander continues to show how they are invested in truly meeting our customers where they are - not by just relying on past trends and using outdated measures of success but actually hearing their concerns and looking at the data to anticipate and identify where we can make the most positive impact in a tough terrain for middle America!  A true testament to our corporate values - when we embrace and acknowledge the changes in our economic landscape and listen as consumers speak up, we are able to move together and assist everyone on their path towards financial prosperity.

💥 2️⃣0️⃣2️⃣4️⃣💥 As the new year nears, consider the prospect of purchasing a home—an exciting goal. It's never too early to start laying the groundwork, and a crucial step is building a solid credit score. See what you need to know below 💥 ➡️ https://lnkd.in/exF9dxHu #credit #score #Payment #History #Credit #mortgagerates

Parent Trap: Nearly Half of Adult Gen Zers Getting Financial Help from Mom & Dad, According to Bank of America Study “Though faced with obstacles driven by the cost of living, younger Americans are showing discipline and foresight in their saving and spending patterns,” said Holly O'Neill, President of Retail Banking at Bank of America. “It is critical that we continue to empower Gen Z to work toward achieving financial health and meeting their long-term goals.” https://lnkd.in/e9kMn7Z7 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

With the inflation and target cash rate expected to remain high over 2024, it can be challenging for young Australians to get into the housing market. So, should you help your children buy a home? It’s essential that any support does not risk your financial security, and that means looking at what support you can afford to provide. https://lnkd.in/gHPBAuas #financialsecurity #estateplanning #homeownership

This article delves into the rising trend of parental financial support for homebuyers, examining the consequences for both parents and children, including potential strains on finances and long-term impacts on housing markets. https://lnkd.in/gN8EhbfQ

This demographic seems to possess an enhanced level of resilience and an earnest commitment to accumulating savings for the purpose of owning a home. https://lnkd.in/gZ46f7wC #financialservicesonline #finance #owningahome #youngadults

Research, data and information is central to critical thinking. The following article is about the ever increasing rise in mortgage interest rates and how they're impacting one young couple's household and disposable income. Perinna 29 and Connor 30, now spend a whopping $1,000 a week on their mortgage alone. That's, $4,000 a month or $48,000 a year. Perinna is the sole income earner as Connor stays at home to look after their young child. Perinna is a FIFO worker and is therefore well paid but the family must still manage this significant financial burden through frugal decision making, constrained expenditure and significantly lowered expectations. Always curious about the 'big picture' impacts of economic, social, political and technological issues, I have started to question who is actually benefitting from this massive transfer of salaried incomes from households such as this? We hear so much in the media about the issue itself, but is this existential angst translating to information as to who's benefitting? Is it the big 4 banks in Australia? Is it multinational corporations? Is it the building industry although from many accounts they're struggling? Is it property developers? Is it those who can afford investment properties? Is it the super wealthy including Baby Boomers and younger billionaires or is it a composite of these? One thing's for sure. It's not the majority in this country because they're too busy working hard in order to withstand this financial onslaught.

Most Australians – particularly younger Australians – plan to improve their finances in 2024, according to a Commonwealth Bank survey. The survey found that 76% of respondents will make at least one financial resolution for 2024. That includes: * 92% of Gen Z (aged 11-26) * 89% of Millennials (aged 27-42) * 74% of Gen X (aged 43-58) * 59% of Baby Boomers (aged 59-77) The survey also found the most popular resolutions for 2024 were to spend less money (30% of respondents), create a new budget or improve an existing one (23%) and switch to a higher-paying job (12%). On a related note, if you have a home loan and it’s been at least two years since you refinanced, you should think seriously about doing so, as switching to a lower-rate loan could be another way to improve your financial position this year. If you want to refinance, contact me on [email protected] or 0413 766 888. #money #homeloans #refinancing

https://lnkd.in/g_GeudVX Four data points show surprising economic strength from mortgage-free home ownership, equity wealth and the "great wealth transfer." #banking #communitybanking #creditunions