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More than half of Americans expect to spend less on fun expenses like entertainment, travel and dining out this year, according to a new survey.
The Funding Poll published earlier this week found that about 54% of respondents said they plan to cut their unnecessary spending in 2025, up from 49% last year.
Bankrate senior industry analyst Ted Rossman said the “doom spending” trend in the pandemic era – embracing unique, exciting experiences because it feels like life is too short – is over.
“We finally see the limits of ‘you only live once’ desire to squander,” Rossman said.
The survey shows that 38% expect their travel spending to decrease, while 39% expect their spending to be on dining out and live entertainment.
President Trump’s latest tariffs have left people worried about a recession, while household debt hit a record $18.2 trillion in the first quarter of 2025, according to the Federal Reserve Bank of New York.
According to a scoop/decision-making station headquarters poll conducted in April, the majority of U.S. voters (82%) are concerned about a potential recession in the Trump administration.
“The cumulative impact of inflation and high interest rates has been aggravating households, leading to record credit card debt levels and causing consumer sentiment to fall
Rossman said.
Instead, one-third of respondents said they plan to have more disposable spending this year, while 22% chose to provide travel funding, 19% diet and 15% entertainment.
According to Bankrate, travel costs are down from last year. These include gasoline, car rental, air tickets and hotel prices.
However, the survey’s responses suggest that this may be more than just funds that prevent consumers from cashing in their experience. Although 65% say they can’t afford it, 23% say they are just not interested in traveling, while 16% say it’s too much trouble.
Among 2,484 U.S. adults, funding analysis includes figures from YouGov, including figures from YouGov.