Americans Have Become More Conscious About Their Money In The Past Year

Money is definitely a big issue for a lot of people these days, with many struggling due to the coronavirus. Well, according to a new report, this has resulted in more people watching their dough, turning them into savers, not spenders.

A new survey finds:

  • 75% of Americans say that in the past year they’ve become more careful about saving their money, and how they spend their dough.
  • 88% say the coronavirus has motivated them to watch their spending habits more carefully.
  • 90% of folks say they are a value shopper, and look for the best deals before spending their money.
  • And 90% of those people say they were not a value shopper just a year ago.

But regardless of how much money folks are looking to save, there are some purchases they won’t put off no matter how much it may affect their bank account.

    • Such essential purchases include:
    • Replacement appliances (43%)
    • Replacement tires (43%)
    • Home repairs (42%)
    • New computers (31%)
    • New mattresses (28%)

But even when it comes to essential purchases, folks want to get good value for their money.

  • In fact, 85% of people would prefer to spend their money on an item that meets their specific needs, rather than ones that have expensive additional features they won’t use.
  • Top features that drive an essential purchase include:
    • Reasonable price (69%)
    • Long lasting (63%
    • Has exact features they need (63%)

Source: SWNS Digital