Spending on Essential Items Rises Substantially
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iStock/Thinkstock(NEW YORK) — Spending more but enjoying it less?
For the first time, Gallup conducted a survey of 1,000 adults to measure consumer spending data and discovered that 45 percent of Americans have increased their overall purchases compared to last year.
Number one on the list is grocery shopping, with almost six in 10 people spending more at the market than in 2013.
Gasoline is a close second, followed by utilities and healthcare bills.
The reasons for added spending are pretty simple to figure out since the cost of food, fuel and utilities have all risen from a year ago, while millions have signed up for medical insurance through the Affordable Care Act.
Since these items are essential, Americans have had to cut back in other areas, which are leisure activities such as traveling and going out to restaurants. Spending on these activities is off 38 percent compared to in 2013.
Just the same, Gallup reports that 69 percent of Americans still plan to travel this summer.
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