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Americans making sacrifices to continue drivingPosted On Fri, March 23, 2012
CouponCabin.com recently released a poll which showed many consumers are cutting back on spending in order to continue to afford rising gas prices.
The report showed that 70 percent of Americans are going out to eat less often than they used to, while 64 percent are cutting back on entertainment spending altogether. Nearly two-fifths of those polled said they had to cut back on clothes shopping, and more than one-fifth of consumers had to get rid of a subscription service such as Hulu or Netflix.
"For many Americans who are just getting back on their feet, rising gas prices can be a tough financial hurdle," said Jackie Warrick, chief savings officer at CouponCabin.com. "In addition to making basic lifestyle choices to afford gasoline, 75 percent of adults are making changes to their driving habits to lessen the blow to their wallet."
Another 15 percent were forced to cancel their cable television or satellite package, the report said. A total of 5 percent said they needed to get rid of their internet in order to continue paying for gas.
Close to one-quarter of Americans think they will build up credit card debt in order to afford gas payments over the next several months, the report added. Close to 30 percent of homeowners with children noted they will have to do this.
Consumers shouldn't have to cut back on what they enjoy to do just to afford gas. However, if a person feels they need to cut back on some things, finding lower auto insurance rates may be a perfect place to start. One of the best ways to do this is to compare auto insurance quotes, as there are many different types of plans available.
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