The 4th of July is a great American holiday. It’s a day to celebrate our freedoms. The day is often filled with parades, family gatherings, BBQs, beach trips… and of course, huge fireworks displays. But, the past two years have seen a shift in celebrations for all holidays, due to the COVID-19 pandemic. For this year, restrictions have eased tremendously in most parts of the country. This gives us a lot of freedom to celebrate fully as we have in the past. But, despite that, it looks like at least two-thirds of Americans will spend less this year than last.
WalletHub recently hosted a survey to take a look at Americans’ spending around the patriotic holiday. From this survey, it seems rising inflation is in large part to blame for a decrease in spending. The higher costs are leading more Americans to reduce their non-essential spending, in the areas related to the holiday and travel.
The WalletHub survey took a look at what plans Americans have for the 4th of July, and their current outlook on freedom and patriotism as a result of current events.
Some of WalletHub’s main findings reveal:
- Inflation is affecting Independence Day plans for 57% of Americans.
- Americans are making efforts to support goods made in the USA, at least 65% try to buy more American-made items.
- Independence in the area of finances is unstable. Around 56% of Americans do feel financially stable.
- Spending is down this summer, with more than half of Americans spending less this summer than last.
- Saving is patriotic? According to their survey, 64% of Americans think saving money is more patriotic than spending.
Unfortunately, there is a large number of Americans who feel the cost of living is a huge setback. In fact, the survey reveals 62% of Americans believe it’s holding them back from living the “American Dream.” Other limitations in the pursuit of that dream? Income, debt, education, and job opportunities.
To learn more about the survey, and what questions were asked to the survey respondents, CLICK HERE.
If you are looking to add some red, white, and blue décor and attire to your 4th of July, check out these fun finds!