According to a recent report from First Insight, a staggering 97% of 1,000 U.S. adults surveyed indicated they are shifting their financial decisions to accommodate high inflation. Overall, 75% of respondents said they have less financial confidence at this time and are mainly prioritizing their spending towards prices of groceries, gasoline, housing, and healthcare.
In a further attempt to alleviate costs, 82% of respondents reported they seek out sales and promos. 28% said they are just not shopping as much, and 40% percent reported keeping a budget.
The report also noted that travel has decreased, as 42% of respondents said they have reduced the amount of time spent driving. Another 42% said they have opted to dine out less due to gas prices and the high cost of groceries, and 35% reported they cut back on vacations. Most respondents stated, however, that they have not cut back on beauty/personal care or pet care.