Survey: People still focusing on budgeting, saving money

A recent poll shows that American consumers are still concentrating on budgeting and saving money.

According to a Harris Interactive survey, 50 percent of respondents said they plan on saving money or investing cash in the next six months. This is, however, down from the 53 percent who said the same thing in May of this year.

Furthermore, 67 percent of respondents said they planned on reducing spending on eating out and entertainment. One-quarter of those surveyed said they anticipated having more money to get the things they want.

It its report on the survey, Harris Interactive noted that continued increases in unemployment and general worries about the economy are probably causing people to cut back on spending.

“When the job market begins to turn around, people would be more secure that they will not lose their jobs or, if they already have, are closer to finding a new job,” the firm noted. “And, once they have that security they may be willing to eat out more and go to the movies more frequently.”

Unemployment came in at 9.8 percent during September, which is up from 9.7 percent during the prior month.

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