What New Jersey Residents Are Giving Up to Save Money in 2026

The negative impacts on the United States economy continues, thanks to Prolonged Inflation and the aftermath of the COVID-19 Pandemic Lockdowns.  A recent CBS News Money Watch report revealed that the highest percentage of Americans are delinquent on Auto Loans and Credit Card Balances since 2010.

The Pew Research Center discovered that 70 percent of U.S. Adults have been forced to cut back spending on nonessentials. Over the last 12 months, many Americans have cut back on eating out, vacations, spending on streaming services, and other forms of entertainment.

What Are New Jerseyans Cutting Back on this year?

Researchers at Cashback Loans surveyed thousands of Americans in each state to learn what people are choosing to not spend money on as their finances are getting tighter. According to a press release, 31 percent of New Jersey Residents admit they had to borrow money in order to pay for essential living costs like groceries, travel expenses for work, along with housing costs like rent, and utility bills.

Cashback Loans researchers found that 27 percent of NJ Residents have skipped or cancelled social plans to save money. Also, 23 percent admitted to missing or delaying paying bills because of their financial situations

The most surprising result of Cashback Loans survey was that 37 percent admited to cutting back on grocery spending. That means more than one-third of all New Jersey residents are either rationing food or risking malnutrition because of the complexities of their financial situations.

Other findings of New Jersey residents surveyed include:

*27 percent admit to using their savings to cover everyday expenses
*23 percent were forced to cancel subscriptions such as Netflix, Spotify, etc
*22 percent say they delayed medical or dental care because of other bills
*22 percent admit to avoiding attending events with friends and family because of financial constraints

Almost half of New Jersey residents (48 percent) told Cashback Loans researchers that continued inflation is their "top financial concern" over the next 12 months.