The high costs of gas around the country are causing some people to think twice about their discretionary spending decisions, including when and if they will make a major purchase, take that extra trip to the grocery store, or even head out of town for the weekend. According to a Prosper Insights & Analytics survey, seven in 10 (71.9%) Americans say that fluctuating gas prices have impacted their spending in some way.
Specifically, slightly more than one in five (22.8%) have delayed a major purchase, such as a car, new TV or furniture, 37.7 percent have reduced how much they are dining out, 29.7 percent are spending less on clothing, and 19.5 percent are cutting back on what they spend on groceries.
Of course, Americans are not unfamiliar with high gas prices (the national average cost of gas is hovering around $3.70 a gallon), but the impact could be compounded this summer by the fact that many people are already working with smaller budgets due to increases in the payroll tax, suggest the findings.
