Gallup: Two-Thirds of Americans Prefer Saving to Spending
A recent Gallup poll shows that 65 percent of Americans polled prefer saving to spending, marking an all-time high. In contrast, the share of spenders and savers was equally matched in the early 2000s prior to the recession. For the first time since 2006, half of respondents rated their personal financial situation as excellent or good.
Among the 18- to 29-year-old demographic, the share of those who enjoy saving more than spending rose from 54 percent in the early 2000s to 66 percent.
"Americans are considerably more likely than they were in the easy-credit years preceding 2008 to perceive saving money as more enjoyable than spending it," Gallup said. "And their actions have, at least to some extent, mirrored their attitudes. Saving rates that had dropped from the double-digit levels of the 1960s and 1970s down to an abysmal 1.9 percent rate in July 2005 are now consistently close to or above 5 percent."
"Two-Thirds of Americans Prefer Saving to Spending"
ABA Banking Journal (04/25/16)
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