$4 a gallon gas has forced many Americans to drive less, but the high price of gas is also causing many to change their spending habits all together. A new survey reveals that many Americans are cutting out small luxury in order to keep their car’s tank topped off.
A new study conducted by Kelly Blue Book finds that one in four people has cut out Starbucks completely from their morning routine, with another 21 percent greatly reducing their patronage of the coffee house.
But Starbucks isn’t the only one feeling the squeeze. According to the survey, 28 percent of Americans say they have completely stopped buying DVDs and CDs, with another 33 percent reducing their purchasing habits.
Local sports teams are also feeling the economic crunch, with over 50 percent of those surveyed saying they don’t attend games as frequently as they once did.
Restaurants are the biggest losers, with 60 percent of people eating out less often.
The only vice not losing out to the pump? Candy. While many Americans are choosing a $4 gallon of gas over a $4 cup of joe, candy is still a sweet treat that we don’t mind shelling out for. “A dollar candy bar treat in the face of filling up the gas tank for nearly $100 can be a powerful psychological motivator,†James Russo, vice president of marketing for Nielsen’s food sector, told the Cincinnati Enquirer.
