Americans Altering Attitudes About Money
As a result of the financial crisis, Americans have permanently changed their attitudes toward saving money and are more focused on paying down debt and controlling finances, according to a recent study by Synovate.
In addition, Americans are re-evaluating even the smallest of decisions to ensure they get as much value from their purchases as possible, Synovate found.
Resetting Priorities
One in four Americans (25%) say they are glad for the economic crisis, in that it has helped them recognize their priorities. Some 52% of Americans have permanently changed their attitudes to the importance of saving money, while 42% are looking forward to spending freely again. However, 59% of Americans say they will do their best to not revert to pre-recession spending levels.
Below, additional findings from the study.
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Comments
Interesting consumer habits study. It would also be interesting to conduct the same survey with a population of corporate executives and ask them about corporate purchasing decisions.
Attitudes about saving are *permanently* changed?? We'll see about that.
In fact, the reason given by most for postponing a purchase or not making it was lack of cash, not a newfound desire to scale down and/or save.
Yes, but not enough cash could also indicate they weren't going to put it on their cards...
I would argue that when consumers are asked about savings - they may answer how they really want to behave, but may not actually behave that way - esp. when it comes to saving.
Good research for insights nonetheless...