Changing Consumer Spending Habits in 2025
A Bankrate survey found that over half of Americans plan to spend less on entertainment, travel, and dining out in 2025 compared to last year. Concerns about a potential recession and high household debt are contributing to the decrease in nonessential spending.
Key Points
- Over 50% of Americans plan to spend less on fun expenses in 2025
- Concerns about recession and high household debt are influencing spending decisions
- Some respondents still plan to increase discretionary spending
Pros
- Awareness of financial limitations
- Potential for reduced debt accumulation
Cons
- Impact on industries reliant on consumer spending
- Decreased economic activity