Americans plan to spend less money this July 4 – The Hill

The story at a glance


  • Two-thirds of Americans plan to spend less on the holidays than last year.

  • Most survey participants said they don’t plan to shop during the holidays this year.

  • American adults surveyed said the biggest obstacle to the American dream is the cost of living.

According to a new survey, Americans are feeling the sting of inflation and expect it to reduce their vacation spending.

A new WalletHub survey has found that rising prices are altering July 4 plans, as two-thirds of Americans plan to spend less on the holiday than last year.

Most survey participants said they don’t plan on holiday shopping this year, reflecting a broader economic trend that has led Americans to tell WalletHub they plan to spend less this summer. generally.

Attendees also said the rising prices had affected their own pursuit of the American dream. Income, debt and education, according to the survey, are all factors that influence the chances of success. But Americans said the biggest hurdle they faced was the cost of living.

Still, the survey shows that Americans still feel a sense of patriotism as the holiday weekend approaches, and nearly two-thirds of survey participants said they made an effort to buy products made in the States. -United.

The WalletHub survey was conducted online, measuring a nationally representative sample of 350 American adults.

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A separate survey by LifeWorks found that inflation is taking its toll on the mental health of Americans, especially among those who cannot afford to meet their basic needs due to soaring costs.

The Life Works Mental Health Index released last week shows that people whose basic needs are not being met due to inflation have mental health scores 16 percentage points lower than the national average.

Only 16% said inflation hasn’t affected them yet, even though they expect it to eventually.

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Posted on June 27, 2022

Julio V. Miller