Don’t Waste Your Money: The American Shopper Is Back

Posted at 6:35 PM, Oct 29, 2014
and last updated 2014-10-29 18:35:30-04

Since the economic downturn, we became a nation of savers, too traumatized by the economy to buy anything but the bare necessities. However, Americans are starting to spend again. A Consumer Reports nationally representative survey found that’s happening across the country.

• 12 percent said they had bought a home in the last year or plan to do so soon.
• 46 percent just bought a car or are about to buy one.
• Spending on home improvements is up.
• A third of Americans has just completed a major renovation or plans to do so.
• 29 percent are buying a big electronic device, such as a TV or computer.
• 39 percent plan on small electronics, such as a tablet or cell phone.

Those who are 34 and younger are especially optimistic.

• 25 percent said they now feel they can afford to get married.
• 24 percent said they can now afford to have children.

When it comes to money, America’s mood is upbeat. And people tell Consumer Reports that they plan on purchasing more in the next year.

The survey also found that people are spending differently than they used to.

• 41 percent are waiting longer between haircuts.
• 43 percent are taking “staycations” rather than big trips.
• 57 percent of women are polishing their nails at home instead of going to a salon.