More People Spending Less 8/6/26

Summary

Podcast Summary: Your Money Minute — "More People Spending Less"

Date: August 6, 2026
Host: Jessica Ettinger, CNBC
Expert Contributor: Steve Liesman, CNBC Senior Economics Reporter

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Episode Overview

This concise episode focuses on a growing trend: Americans are spending less, especially on essentials, as a response to persistently high prices. Using new data from CNBC’s All America Economic Survey, Jessica Ettinger and Steve Liesman break down which demographics are cutting back and the broader implications for daily life.

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Key Discussion Points & Insights

1. Widespread Spending Pullback

• The episode opens by highlighting that more people are actively trying to minimize their spending and avoid unnecessary purchases.
  • Quote (Jessica Ettinger, 00:03): “If you’re finding yourself trying to keep your wallet closed and trying to avoid needless spending, well, you’re not alone.”

2. Survey Data on Spending Behavior

• Steve Liesman shares new statistics from the CNBC All America Economic Survey of 1,000 voters.

  • 47% are spending less on essentials like groceries and medical care.

  • 66% are cutting back on out-of-home entertainment.

  • 37% are relying more on credit cards due to high prices.

  • Reduction in travel is up 5% since the last survey in April.

  • Quote (Steve Liesman, 00:22): “47% are spending less on essentials like groceries, medical care, that’s up just in April. Those spending less on out-of-home entertainment, 66%...”

3. Who Is Cutting Back the Most?

• Lower-income Americans are feeling the squeeze far more than the affluent.

  • 60% of those with the lowest incomes are spending less.

  • Only 35% of those earning $100,000 or more are cutting back in response to higher prices.

  • Quote (Steve Liesman, 00:47): “Who is spending less? Those with lowest income. Americans 60%. Only 35% of those Americans earning 100,000 more are responding to higher prices by spending less.”

4. CNBC’s Ongoing Research

• Jessica Ettinger notes the long history and reliability of the CNBC All America survey, inviting listeners to view more details online.

  • Quote (Jessica Ettinger, 00:58): "CNBC has been conducting its All America survey for nearly 20 years now. You can see Steve’s full story and the survey results and methodology at CNBC.com."

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Notable Quotes & Memorable Moments

• Jessica Ettinger (00:03): “If you’re finding yourself trying to keep your wallet closed and trying to avoid needless spending, well, you’re not alone.”
• Steve Liesman (00:22): “47% are spending less on essentials like groceries, medical care...”
• Steve Liesman (00:47): “Who is spending less? Those with lowest income. Americans 60%... Only 35% of those Americans earning $100,000 more are responding to higher prices by spending less.”

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Important Timestamps

• 00:00–00:11: Introduction; Americans’ new spending habits.
• 00:18–00:42: Steve Liesman presents key survey statistics.
• 00:42–00:58: Discussion on demographics most affected.
• 00:58–01:11: CNBC survey history and online resources.

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Tone & Language

The episode maintains CNBC’s signature succinct and informative tone—clear, data-driven, and focused on offering actionable consumer insight. The language is straightforward, reflecting the pressing and practical concerns of many listeners.

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Conclusion

In just sixty seconds, this Your Money Minute equips listeners with vital statistics and context about tightening household budgets nationwide. The episode underscores the growing divide between income groups in response to inflation, highlighting resource links for further details.

Transcript

[A]

With the CNBC your Money Minute. I'm Jessica Edinger. If you're finding yourself trying to keep your wallet closed and trying to avoid needless spending, well, you're not alone.

[B]

Ordinary Americans have kept watching their spending in even greater percentages and say they're cutting back in response to high prices.

[A]

CNBC senior economics reporter Steve Leesman.

[B]

The CNBC All American Economics survey of a thousand voters nationwide finding that 47% are spending less on essentials like good groceries, medical care, that's up just in April. Those spending less on out of home entertainment, 66%. Those using the credit card more because of high prices, 37%. Even traveling less, that's up 5%.

[A]

Most of the people who are cutting back on their spending fall into the lower income cohort.

[B]

Who is spending less? Those with lowest income. Americans 60%. Only 35% of those Americans earning 100,000 more are responding to higher prices by spending less.

[A]

CNBC has been conducting its All America survey for nearly 20 years now. You can see Steve's full story and the survey results and [e-mail] I'm Jessica Ettinger. CNBC

[C]

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