Americans cut back on savings, healthcare as gas price soars

0 Comments | AFP, June, 2008

WASHINGTON (AFP) — Nearly half of Americans are saving less, and nearly a quarter have reined in their spending on food and healthcare as soaring petrol prices bite into household budgets, a survey showed Thursday.

"Forty-five percent of respondents have been putting less money into savings accounts; 24 percent have cut back on essentials like food or healthcare; and 17 percent have charged more expenses on credit cards -- all troubling trends," according to the Auto Pulse survey, conducted by the Consumer Reports National Research Center.

Nearly a third of the 884 people polled earlier this month said they are walking or riding bicycles more to save money, and 16 percent said they are using public transportation more, said the poll, which was conducted as petrol...