The economic crisis has affected Americans' spending and borrowing habits. According to a Harris Interactive poll. Nearly 2/3 of Americans say they are spending less, while 64 percent say they are less likely to take out a loan. Another 33 percent say they are using their credit cards less often than before.
The survey also finds that one in five Americans (21 %) with a personal savings account and one in ten with retirement savings have added bank savings and CDs to their portfolios in the past six months.
However, many Americans admit that they have not saved enough to weather a downturn, either now or in their retirement years. Almost 1/4 (22%) of those polled say they have no personal savings, and 30 percent say they don't have any retirement savings.
Middle-aged and affluent Americans are cutting back most on credit card spending. Approx. 45 percent of those ages 40-49 and 41 percent ages 50-64 say they used their credit cards less in the past six months. Of those earning $75,000 or more, 41 percent say they used their credit cards less.
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