The Effects of Inflation, Rising Costs and Increasing Interest Rates Driving Regional Consumers to Re-Think Their Future Finances
educating-myself | Read Time: 3 minutes
By Eric Springer | Published: October 2022
WSFS Bank’s annual Money Trends study found that nine in 10 people are worried about affording price increases in the next year, leading to expected changes in how they spend, save and even plan for significant life milestones.
The study, which surveyed 1,500 Greater Philadelphia and Delaware region consumers and 1,500 consumers nationally, measured current spending and saving trends and economic sentiment among adults ages 18-55.
Check out the infographic below to learn more about the study’s key findings.
The study was conducted by research company Opinium. The sample includes 1,500 national respondents and 1,500 in the Greater Philadelphia and Delaware region from August 30 – September 19, 2022, with a combined regional and national margin of error of +/- 2.5 percent.
About the Author – Eric Springer
Eric Springer is Vice President, Integrated Communications Manager at WSFS Bank. He brings nearly 20 years of experience in corporate communications and marketing for banking, professional services and nonprofit organizations.
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