When trying to save money, consumers choose to keep technology and cut back in other areas
Washington, DC – The June Financial Literacy Opinion Index poll hosted on the National Foundation for Credit Counseling (NFCC) website revealed that in order to save money, people are willing to give up eating out, shopping, fancy coffees and cable TV, but they remain very attached to their cell phone and Internet services.
The poll results indicate that consumers are making logical choices when determining where to cut back, as they elected to eliminate spending in the areas where the lifestyle change would be least noticed, thus increasing the likelihood of sustainability. For instance, they can brew coffee at home, prepare meals at home, and control their shopping. Giving up cable seemed doable possibly due to the many viewing options available online or via a cell phone.
Today’s consumers may be reluctant to give up their cell phone, not only due to convenience, but because they have disconnected their land line in favor of their cell as the main source of verbal communication. Considering the capabilities of today’s smart phones, tech-savvy consumers have begun to rely on their cells to perform many of the same tasks as their computer.
A. My cell phone = 53%