Half of Americans Cut Back To Buy Tech Products

December 10th, 2014

Is technology indispensable to modern life? Discussed in the video and article below, a CNBC survey concludes that “nearly half of Americans have cut back on spending, including for travel, food and health care, in order to afford their technology.”, with cellphones being the most important expense.In, A frugal trade? Americans spend less on food, more on technology, senior economics reporter Steve Liesman reports:

“The CNBC All-America Economic Survey found that 49 percent of the 805 respondents economize to afford technology. The nationwide survey, with margin of error of plus or minus 3.5 percent, found the top way to save for technology, chosen by about a third, is to cut back on traditional entertainment such as movies and restaurants. But 20 percent report cutting back on clothing, 11 percent purchase less food and 10 percent have reduced spending on health care.”