70% of Americans have cut back on extras like dining out and streaming, due to inflation, per PEW. Electricity bills are forcing households to make tradeoffs.

Pew Research Center published the finding on October 14, 2026.

But the rest of the survey makes the picture worse than just people skipping restaurants or canceling Netflix.

• 70% cut back on extras such as eating out, streaming services and entertainment over the past year.

• 60% say their income isn’t enough to live the kind of life they want.

• 53% lack emergency savings to cover three months of expenses.

• 27% cannot pay some monthly bills in full.

• 54% say they haven’t been able to save money for the future.

   

https://www.pewresearch.org/short-reads/2026/10/14/many-americans-are-struggling-to-afford-basic-necessities/

Two-thirds of Americans plan to cut holiday spending

A new Ipsos poll found roughly two-thirds of Americans expect to cut back in at least one area this holiday season, including dining out, gifts and travel. Nearly four in 10 are more worried about managing holiday finances than they were last year. Inflation remains the leading negative influence on household finances.

https://www.ipsos.com/en-us/two-three-americans-plan-holiday-cutbacks-amid-economic-concerns

80% of Americans worried about rising costs

An SSRS economic tracker found 80% of Americans are at least moderately worried about rising costs, including 41% who are very worried. Sixty-four percent reported turning down heating or air conditioning or using fewer appliances to reduce utility bills. Another 59% are sticking to a grocery budget, while 58% are spending less on extras and entertainment.

The same survey found 64% rate the economy poorly, the highest level since SSRS began tracking the measure in early 2025.

https://ssrs.com/insights/findings-from-the-ssrs-economic-tracker-october-2026/

Consumer Reports found that among Americans whose electricity bills increased, roughly three-quarters said the increase strained their household finances. About one in four had cut back or considered cutting back on nonessential spending such as eating out and travel. Another one in four had reduced heating or cooling to uncomfortable levels.

https://www.consumerreports.org/media-room/press-releases/2026/10/rising-electricity-bills-are-straining-household-finances-forcing-many-to-consider-tradeoffs-including-cutting-grocery-budgets-new-consumer-reports-survey-finds/

Americans are running out of room in their budgets.