The number of consumers rating their personal finances as poor reached a six-month high in August on the Discover U.S. Spending Monitor, which was flat overall from the month prior having dropped just 0.3 points to 86.2. Only 27% of consumers feel economic conditions are improving, a 4-point increase from July, which was offset by 24% of consumers rating their personal finances as poor, a 3-point rise from July. Additional findings show 19% plan to spend more in the next 30 days, unchanged from July; 25% planned to spend less, 1 point lower than July; 48% plan to spend less on going out to dinner or the movies, unchanged from July; 48% plan to spend less on home improvements, unchanged from July; and 45% plan to spend less on a vacation or gym membership, 1 point lower than July. Additionally, 57% rate the Economy as Poor; 57% rate current economic conditions as poor; 42% have no money left over after paying monthly bills; while 37% are expecting an income shortfall or added expense in the next 30 days, unchanged from July.
2010 SPENDING MONITOR