SunTrust: Four in Ten Americans Feel Pressure to Spend More Than They Can Afford

ATLANTA, Nov. 22, 2016 /PRNewswire/ -- The SunTrust Banks, Inc. (NYSE: STI) annual Holiday Financial Confidence survey reveals that 43 percent of Americans feel pressure to spend more than they can afford during the holiday season. Pressure to overspend is up four percent since the survey was first conducted in 2014 by Harris Poll, but down slightly from a high of 46 percent last year.

The December holiday season is often the most challenging time to gain control over finances, resulting in overspending that can lead to financial stress and distract people from enjoying the meaningful moments. Earlier this year, SunTrust launched the onUp movement to provide resources that empower Americans to move from financial stress to confidence. Throughout the holiday season, the company will provide a number of tips and tools on onUp.com/holiday, including a holiday planning guide, a holiday budget tool and a holiday spending calculator.

"People can better enjoy time with family and friends during the holidays if they have a spending game plan," said Brian Nelson Ford, financial well-being executive at SunTrust. "Invest in what's important and cut back on things that don't truly enrich your life."

In the 2016 SunTrust Holiday Financial Confidence survey, two-thirds of Americans (66 percent) admitted they typically experience stress during this time of year. To create a more memorable holiday season, SunTrust offers the following tips:

Survey Methodology:
The 2016 survey was conducted online within the United States by Harris Poll on behalf of SunTrust from October 13-17, 2016 among 3,032 U.S. adults ages 18 and older. The 2015 survey was conducted online within the United States by Harris Poll on behalf of SunTrust from October 23-27, 2015 among 2,013 adults ages 18 and older and the 2014 survey was conducted from October 28-30, 2014 among 2,026 adults ages 18 and older. These online surveys are not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Angela Amberg.

About SunTrust Banks, Inc.
SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has three business segments: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of September 30, 2016, SunTrust had total assets of $205 billion and total deposits of $159 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.

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SOURCE SunTrust Banks, Inc.