More Americans Thinking About Money Than Gridlock Traffic This Fourth of July Capital One 360(SM) Survey Finds Americans Want Freedom from Money Stress, and Nearly Half are Optimistic They Will Achieve It One Day
MCLEAN, Va., June 27, 2013 /PRNewswire/ -- Gone are the days of worrying about sunburns and bumper-to-bumper traffic on July 4th. According to Capital One 360's Financial Freedom survey, released today, more than half (55 percent) of Americans say they would like freedom from worrying about money and/or debt this holiday, while only 11 percent want freedom from long lines and/or the gridlock traffic typically associated with the Fourth.
In fact, the Capital One 360 survey revealed the main roadblocks Americans were concerned about were the ones that prevented them from achieving their own financial freedom. Nearly half (44 percent) of U.S. adults surveyed said "financial freedom" means freedom from debt, while more than 1 in 4 (26 percent) said it means having enough saved for emergencies. Retiring early was cited by 10 percent of respondents.
"Everyone's idea of financial success is different. For some it means freedom from debt, but for others it could mean the ability to start the business they've always dreamed of owning," said Jim Kelly, Head of Direct Bank, Capital One. "Whatever those aspirations are, we want Capital One 360 to help people get there and a good start is with our Fourth of July holiday sale for both new and current customers."
Let freedom ring: Capital One 360 is helping consumers jumpstart their savings this July 4th with its Financial Independence Days Sale. New customers who open a Capital One 360 Checking account will receive a $100 bonus for five debit card transactions and/or any CheckMate(SM) deposits within 45 days of opening the account. The sale runs from July 1 to July 3, 2013, and provides additional offers to be announced July 1.
Additional findings of Capital One 360's Financial Freedom survey include:
- What's the biggest battle? 84 percent of those polled who have not or are not sure if they ever will achieve financial freedom say they know what their roadblocks are:
- Roughly a fifth (21 percent) of respondents say managing day-to-day finances is the biggest challenge in achieving financial freedom, 18 percent say they have "a mountain of debt," while 12 percent cite "not knowing where to start" as the obstacle in their path.
- Who are the freedom fighters? Overall, 89 percent of Americans have not yet achieved financial freedom, but of those polled, 43 percent are optimistic they will reach it some day.
- Young adults (ages 18 to 34) remain the most positive about reaching their financial goals (57 percent).
- Victory! Once their independence from money worries is secured, those surveyed say they would celebrate by:
- Traveling the world (24 percent)
- Retiring early (22 percent)
- Spoiling their loved ones (15 percent)
- Buying their dream home (13 percent)
- Turning their passion into a business (11 percent)
To help Americans pursue their financial freedom, new and current customers can take advantage of Capital One 360's Financial Independence Days Sale, which runs July 1 - 3, 2013. The sale includes:
- Customers who open their first 360 Checking account earn a bonus of $100 for five debit card transactions and/or any CheckMate deposits within 45 days of opening the account.*
- CheckMate is a remote deposit tool (just take a picture of the check and deposit it) that allows customers to deposit money at home or on the go.
- Customers also have a chance to double their deposits during the promotion and through July 18. Savers who make a deposit using CheckMate will be entered for a chance to double that check amount, up to $3,000. For those on Twitter, customers can also follow @capitalone360, tweet what they would love to double using #DoubleYourDough and @capitalone360 for a chance to win $2,000. NO PURCHASE NECESSARY. For more details, see official rules at www.usscpromotions.com/doubleyourdough/rules.
To learn more about Capital One 360's Financial Independence Days Sale visit www.capitalone360.com/independence on July 1 when more sales are announced.
*Details of the 360 Checking account and bonus are:
- Must be a customer's first 360 Checking account, including Electric Orange
- Debit card purchases can be either signature- or PIN-based
- The bonus will be received on day 50 of opening the account
- No fees and no minimum balance required
- Account gives access to 38,000 free Allpoint ATMs
- Current 360 Checking account rates are variable
- 0.20 percent APY on balances less than $50,000
- 0.80 percent APY on balances of $50,0000 to less than $100,000
- 0.85 percent APY on balances of $100,000 or more
This survey was conducted online within the United States among 2,084 adults (age 18 and older) from June 18-20, 2013, by Harris Interactive on behalf of Capital One 360. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., had $212.4 billion in deposits and $300.2 billion in total assets as of March 31, 2013. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
SOURCE Capital One 360