Everyone’s cutting back
Americans of all incomes are spending less
Worried about spending money these days? If so, you certainly aren’t alone. Americans are tightening their belts, spending less this season than in many previous years.
A recent poll indicates folks of all incomes anticipate reducing their budgets. Interestingly, the wealthiest shoppers are those who planned to cut back the most. Here’s a look at estimated Christmas spending over the past seven years, based on income:
| $75,000+ | $30,000-$74,000 | Less than $30,000 | |
|---|---|---|---|
| 2008 | $954 | $625 | $331 |
| 2007 | $1,339 | $774 | $359 |
| 2006 | $1,102 | $812 | $512 |
| 2005 | $1,349 | $785 | $425 |
| 2004 | $1,247 | $827 | $465 |
| 2003 | $1,200 | $767 | $377 |
| 2002 | $1,178 | $759 | $475 |
Source: www.gallup.com
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