This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Swing States Savings

Stocks in this article: PBI

With the economy widely tipped to be a determining factor in this year’s election, Pitney Bowes Software today released new data that shows a decline in consumers’ average savings balances in four out of nine battleground states. Average savings account balances for the full year 2011 fell in absolute terms in four swing states - Nevada, Colorado, Ohio and Florida - when compared to the averages for 2010.

Savings account balances grew slower than the inflation rate in three additional battleground states - Virginia, North Carolina and Wisconsin - representing a decline in the real value of these accounts.

At the national level, the average savings balance increased by 3 percent from $5,753 to $5,923, just below the rate of inflation, showing that challenging conditions for saving persist.

Checking account balances look a little bit healthier, according to the Pitney Bowes Software analysis. Average balances nationwide for consumer bank non-interest checking accounts grew 5.2 percent from $2,947 to $3,100.

“In politics and business alike, it is important to identify the underlying trends below the macro-economic picture,” said John O’Hara, President, Pitney Bowes Software. “Using location intelligence to analyze data enables government and businesses to understand their constituents or customers in the fullest context.”

Biggest Increases and Decreases

Swing state Iowa saw a 16 percent increase in checking account balances. Hawaii also saw big increases, with average checking balances increasing by 13 percent and savings balances by 11 percent. Louisiana saw an enormous 21 percent increase in savings account balances according to the data, while New York State saw a 19 percent increase and Alaska saw a 14 percent increase.

Overall, six states saw declines in non-interest checking account balances and seven more saw increases that fell below the rate of inflation. Florida saw a double-digit (11 percent) decline in savings balances between the end of 2010 and the beginning of 2011, as well as a 10 percent decrease in average balances of non-interest checking accounts.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs