• Fifty-nine percent will continue to cut back on everyday expenses.
• Sixty percent will continue to save and invest more.
• Sixty-one percent will continue to cut down on credit card purchases.
• Sixty-three percent will continue to reduce the amount of money they owe.

Eric Eve, Senior Vice President, Global Community Relations at Citi, said, “This new survey points to a profound shift in the way people think about their saving and spending. The current economic environment is altering, perhaps permanently, the way we think about spending money. As Citi changes the way it does business to reflect the new economic realities, it’s important we continue to understand how our customers also have been affected by the economic challenges and pressures they currently face.”

• Seventy-five percent have cut back on everyday expenses.
• Sixty-two percent have cut down on credit card purchases.
• Fifty-seven percent have reduced the amount of money they owe.
• Fifty-three percent have postponed the purchase of a major item such as an automobile.
• Forty-two percent are taking money out of savings or investments to help pay expenses.
• Thirty-four percent are saving and investing more.
  

More specifically, those who earn less than $50,000 were most likely to cut back on everyday expenses (80 percent), followed by 76 percent for those who earn $50,000 - $75,000. But even at the top of the income scale, people are making adjustments and cutting back on everyday expenses – 70 percent for those who earn more than $150,000 and 68 percent for those who earn $75,000 - $150,000.

• Sixty-eight percent of African Americans and 66 percent of Hispanics have cut down on credit card purchases (compared to 62 percent of the national sample).
• Forty-seven percent of African Americans and 45 percent of Hispanics have taken money out of savings or investments to help pay expenses (compared to 42 percent of the national sample).
• Forty percent of both African Americans and Hispanics are working longer hours to make ends meet (compared to 32 percent of the national sample).
• Eighty-two percent of African Americans have cut back on everyday expenses (compared to 76 percent of Hispanics and 75 percent of the national sample).
• Thirty-six percent of both African Americans and Hispanics have sought additional education to increase opportunities (compared to 21 percent of the national sample).