Frugal spending habits
13/08/2008
The current mood of frugality among US consumers has increasingly spread to the affluent and wealthy, a survey of attitudes in some of the country’s richest households has revealed, according to a report in the Financial Times.
The research, carried out at the end of June by Harrison Group and American Express Publishing, showed that 80% of the 625 respondents who represent the wealthiest 10% of US households were looking closely at every spending category to see where they could save - up from 68% in April.
The survey, which focused on households with discretionary income of at least $100,000 (€64,440) after taxes, mortgage and education costs and other regular payments, also found that 56% of respondents were purchasing fewer big-ticket items now than they did six months ago.
