From barrels brimming with beer and boots made for drinking to Bavarian pretzels and pork knuckles, Oktoberfest has it all. That’s why this centuries-old celebration brings more than six million partiers to Munich for a couple weeks each October. Yet only about 2% of the crowd typically hails from the U.S. And it’s little wonder why, considering the trip would cost the average American roughly $5,000, according to WalletHub estimates.
But much like it’s always five o’clock somewhere, you don’t need to visit the original Oktoberfest to feel the vibe. Many cities host their own festivals – most notably, Cincinnati and San Francisco. Even more local watering holes throw themed parties. Or, maybe you just want to get festive at home. No matter what, we’ve got all the information you need to understand what you’re “prost”-ing to.
The release of each new iPhone model is a big-money occasion for Apple, the world's second largest company by market capitalization and fourth most popular hedge fund stock. However, this year may not be as profitable as usual. 28% fewer people plan on buying the new iPhone this year than last year, according to a nationally representative survey conducted by WalletHub.
Buying a new iPhone is a big decision for consumers, who may have to shell out over $1,400 for the new device at a time when credit card debt is on track to have another record high year. But even though fewer people will buy a new iPhone this year than last, millions are still willing to pay out for the upgrade. The key, it seems, is that credit scores are at lofty historical levels, too. In other words, installment plans and other financing arrangements will help the iPhone remain popular into its second decade.
Labor Day is approaching, and retailers are preparing to offer big deals to attract Americans during the long weekend. One of the biggest sectors to profit from Labor Day sales is the auto industry. According to a nationally representative survey conducted by WalletHub, 77.5 million Americans will look at cars to buy this Labor Day Weekend.
According to the marketing information services company J.D. Power, August is one of the biggest months of the year for auto sales, especially the weekend of Labor Day. Auto sellers stand to make even more money than usual this year considering that the average vehicle price is at a record level. In July, the average new vehicle price was $33,000, up $1,400 from the previous year. Therefore, sellers can entice new buyers with discounts yet still reap great profits. In addition, according to the Kelly Blue Book, Labor Day is among the best times to buy a car because sellers tend to offer “significant rebates and special financing.”
Labor Day weekend is not just the last summer holiday you can celebrate — it’s also one of the best times of the year to shop. Many retailers mark down their inventory considerably during the holiday, which is why many parents hold off until then to do their children’s back-to-school shopping. You’re likely to find deep discounts on just about everything, from clothes and books to furniture and video games.
For more than a year, WalletHub kept an eye on America’s biggest retailers to find out what special deals they have in store for the upcoming holiday shopping bonanza. We also tracked various product categories to see which among them are discounted most heavily in September compared with the rest of the year. The standouts? Dishwashers. If your wish list includes those items, September is the time to make room in your budget.
Labor Day in the 21st century is all about beaches, BBQs, ballgames and buying things. This year, for example, 25% of Americans plan to get out of town for Labor Day weekend. More than 102 million will enjoy a cookout. Thousands will pack college football stadiums. And the average Labor Day weekend shopper will spend $58 in the process, according to WalletHub’s survey.
But it hasn’t always been that way. Labor Day’s roots can be traced back to the streets of 1880s New York City, where rival union leaders joined forces to protest the unfair labor practices that plagued industry at the time.
A lot of people probably assume that giving credit cards to college kids is a recipe for trouble, and many students are no doubt among them. But if you ask a diverse sample of college students about their understanding and usage of credit cards, as WalletHub did, the results may just surprise you – in a good, reassuring way.
WalletHub conducted a nationally representative survey of college students, asking about everything from how they’d grade their financial know-how to which spending categories they most want bonus credit card rewards for. You can check out the results in the following infographic.
By law, Americans cannot get a credit card before they are 18 years old. But that doesn’t mean that people younger than 18 can’t use credit cards at all. An adult can add a minor as an authorized user on their credit card account and share their credit line with the user. While specific credit card issuers may set their own age limits, there is no legal minimum age for someone to become an authorized user. Being an authorized user can give a child the opportunity to learn about fiscal responsibility. In addition, it offers them the opportunity to build credit, as information from a credit card account will also appear on the credit reports of any authorized users. Parents who are worried if their child will really be on their best behavior can set spending limits or make it so that transactions must be approved.
In order to learn more about the attitudes that parents have toward making their children authorized users, WalletHub conducted a nationally-representative online survey. We asked about everything from the reasons behind giving their kids a credit card to the percentage of parents whose kids have used their credit card without permission. You can find the complete results in the infographic below.
Back-to-school season can be a bummer – not just for students, but for parents and their wallets, too. From binders and bookbags to tablets, computers and the latest clothes, there’s a lot to buy. So it’s no wonder back-to-school shoppers spend about about $81 billion per year, according to the National Retail Federation. And while there are lots of savings opportunities, deal-hunting can be stressful in its own right.
To gauge people’s feelings about back-to-school shopping, and thus learn more about the state of family finances, WalletHub conducted a nationally representative online survey of parents with kids in school. We asked about everything from their favorite back-to-school stores to whether back-to-school shopping is worth going into debt for. You can find the complete results in the infographic below.
Credit cards offer a lot of travel-related benefits that most people don’t seem to know much about. Rental car insurance, travel accident insurance, and insurance for lost/delayed luggage are just a few of them.
To see whether such perks will be put to good use this summer travel season or left unused, plus a whole lot more, WalletHub conducted a nationally representative online survey. You can find the results below.
The credit card is an American invention. But while we use credit to pay for plenty of Independence Day purchases, plastic isn’t so patriotic in the minds of many. Some believe credit card debt doesn’t fit with core U.S. ideals, such as freedom and independence. Others say Uncle Sam tracks our credit card spending, restricting civil liberties.
It’s not all gloom, doom and conspiracy theories, though. These days, we tend to trust credit card companies more than cornerstone institutions such as the federal government and media. And most people think access to credit should be a fundamental right.
Fireworks and freedom: That’s what America does on the Fourth of July to celebrate the country’s birthday, established with 56 founding fathers’ pen strokes on the Declaration of Independence in 1776. We also eat a whole lot of hotdogs: 150 million in total. We make a toast or two to freedom and good old Uncle Sam, shelling out more than $1.6 billion on July Fourth beer and wine. And we travel, with nearly 47 million of us planning to venture 50+ miles from home this year.
Even though July 4, 2019 marks America’s 244th birthday, there’s still a lot to learn about this red, white and blue anniversary. To help fill you in and pump up your patriotism, we put together an awesome infographic filled with 4th of July fun facts. We also polled a panel of experts for some added insight into Independence Day. You can check it all out below.
Paying up at the pump fuels a lot of our travel, from vacation road-trips and business travel to the everyday commute. So we decided to see what the people have to say about how gas prices affect where they go and how they get there.
WalletHub performed a nationally representative online survey, asking about everything from whether people consider the price of gas when making travel plans to how they decide where to fill up. You can find the complete results in the infographic below.
Despite the warming weather, it’s still sweater season for millions of hockey fans worldwide until Lord Stanley’s Cup finds a new home each June. And as the quest for the cup enters its final phase, with the 16 teams in the National Hockey League’s Stanley Cup playoffs whittled down to two finalists, the drama on the ice reaches a boiling point.
Players literally leave blood, sweat, tears and some teeth on the ice while figuratively putting their hearts and souls on the line in an attempt to achieve dreams that took root in boyhood. Fans shell out thousands of dollars on tickets, beer, snacks and apparel. And one artisan engraver prepares to etch 52 new names into immortality.
Credit card rewards aren’t always as rewarding as they could be. One big reason for that is the often-confusing hodgepodge of credit card company rules and restrictions regarding rewards earning and redemption. Plus, some consumers aren’t as knowledgeable as others about picking the right rewards card and then making the most of the account while it’s open.
To learn more about the rewards landscape, WalletHub conducted a nationally representative survey of consumers. We asked about everything from people’s biggest issues and preferences when it comes to credit card rewards to whether people believe rewards are ultimately worth the hassle. You can check out the complete findings of the survey in the following infographic.
Memorial Day is more than just a day off from work or school, an excellent occasion for a backyard barbeque or a chance to travel. Those things do speak to the holiday’s true spirit. But above all else, Memorial Day honors Americans who have died in service to their country. This holiday is not one for somber reflection, however.
We instead choose to celebrate Memorial Day by enjoying the many freedoms that American servicemen and women have perished protecting. They include fundamental rights such as freedom of speech, trial by jury, and protection against cruel and unusual punishment. But the list also covers relative trivialities such as the ability to save up to 80% with Memorial Day weekend sales or to ride roaring Harleys through the nation’s capital. And yes, 60% of us do indeed barbeque each Memorial Day weekend, while 17% take a trip. Memorial Day’s place on the calendar has made it the unofficial start of summer for many.
You can learn a lot about people from their travel habits generally and their attitudes toward summer travel in particular. After all, summer travel can be especially trying, on both our patience and our wallets.
To get a better sense of how U.S. consumers are feeling about their ability to get away heading into the most expensive time of the year, WalletHub conducted a nationally representative online survey. You can find the results in the following infographic.
Attending college is a big achievement and an exciting time in one’s life. It can also be scary, especially when you consider that most students aren't taught much about personal finance.
In order to learn more about college students’ preparedness and plans for increased financial independence, WalletHub conducted a nationally representative survey. We asked about everything from who students' financial role models are to whether credit card debt or student loan debt scares them more. You can find the complete results in the infographic below.
International travel is costly enough without having to pay extra just for swiping, dipping or tapping your credit card beyond U.S. borders. But foreign transaction fees are lurking, even domestically. Any purchase made through an international merchant and processed abroad is subject to a foreign fee.
To get a better understanding of what consumers know about foreign fees, how they influence our card choices and more, WalletHub conducted a nationally representative online survey from April 16 to April 24. We asked people about everything from their international travel and spending habits to whether they worry more about Chinese tariffs on steel or foreign transaction fees on credit cards. You can find the complete results in the following infographic.
Some call it the “most exciting two minutes in sports,” in reference to the speed of good, old-fashioned horse power and the millions of dollars that ride on the outcome. Others call it the “run for the roses,” given the giant floral garnish donned by the fastest pair in the winner’s circle. But you probably know this annual celebration of hats, horses and hooch as the Kentucky Derby, or the first leg of the Triple Crown.
This year marks the 145th running of the Kentucky Derby, held each May at Louisville’s historic Churchill Downs Racetrack. Yet only 36 mounts have followed up a Derby victory with a win in the Triple Crown’s second leg, the Preakness Stakes. And a mere 13 have then sealed the deal in the Belmont Stakes. That includes 2018 Triple Crown winner Justify. The chance to see history is nevertheless just one element of what makes the Kentucky Derby so special.
To celebrate national Small Business Week, WalletHub polled small business owners across the country on the state of their finances. We asked about everything from the key ingredients to small business success and where to get the best business credit cards and bank accounts to how companies will use savings from President Trump’s tax reforms. You can find the complete results below along with additional insight from a panel of experts.
24% of business owners say National Small Business Week helps their business. Business owners age 18-29 are 8 times more likely than business owners age 59+ to say that National Small Business Week helps them.
More than 7 in 10 small business owners say now is a good time for businesses to grow.
23% of business owners say businesses will primary use savings from President Trump’s tax changes for executive and investor bonuses. 12% believe it will go to employee compensation.
While 84% think the user protections on business credit cards should be at least as good as those on personal cards, business cards currently lack a number of key safeguards.