What Americans Refuse To Cut Spending On

What Americans Refuse To Cut Spending On

December 06, 2022

Over the last six months, 81% of people say they’ve cut down on their general spending, new research shows.

• It finds that inflation has affected three in four adults, which has led them to spend less on shopping (70%), entertainment (59%) and food (58%) the most.
• But one area they’re not cutting back on? Their health, as 55% say they’d spend any amount of money on it.
• Source: SWNS Digital

Over the last six months, eight in 10 (81%) people have cut down on their general spending, new research shows. According to a survey of 2-thousand U.S. adults, three in four have been affected by inflation, which has led them to spend less on shopping (70%), entertainment (59%) and food (58%) the most.

The poll also finds:

• The one area people aren’t willing to cut back on? Their health, as 70% of respondents say they won’t let their health falter and 44% won’t spend less on their health and wellness.
• More than half (55%) say they would spend any amount on their health and about a third of their budget goes to things like healthy food, supplements and mental health care.
• Six in 10 respondents credit the pandemic with encouraging them to rearrange their priorities and 63% say the experience made them value their health more than they did before.
• Many of those surveyed feel it’s important to prioritize spending time and money on your health more than other things in life (69%), and they’re doing that by cooking at home more (61%), staying home more in general (59%) and having good spending habits (50%).
• Looking to the New Year, respondents plan to bring these habits with them in 2023 by focusing less on entertainment (39%) and traveling (37%). More than half plan to put themselves first by spending more time on their health (57%) and a third (34%) say they’ll spend more time on hobbies.
• As for goals for 2023, 57% want to get between seven and nine hours of sleep every night and 51% want to get outside more, while another 51% plan to take more walks and include more nutritious food in their diet.
• About two-thirds (65%) will be focusing on mental health, 72% on sleep and 68% on exercise, because these contribute to their overall health.

Source: SWNS Digital