In order to save money, people are willing to give up eating out, shopping, fancy coffees and cable TV, but remain attached to their cell phone and Internet services according to the June Financial Literacy Opinion Index poll hosted on the National Foundation for Credit Counseling website.
When asked to select the last thing they would give up in order to save money, only one percent of the 3,148 poll respondents insisted on keeping their designer coffee, one percent couldn’t do without online or catalogue shopping, four percent would have trouble eliminating eating out, while eight percent were reluctant to pull the plug on their cable TV.
By contrast, 32 percent said they would be least likely to discontinue their home Internet service, while the majority, 53 percent, would refuse to say goodbye to their 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 landline 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.
The June poll question and results are as follows.
In order to save money, the last thing I would give up is:
- My cell phone = 53 percent
- Home Internet service = 32 percent
- Cable TV = 8 percent
- Eating out = 4 percent
- Designer coffee = 1 percent
- Internet/catalogue shopping = 1 percent
For more information, visit the NFCC website.