More on changing habits

Almost two-thirds (63%) of Americans say they are spending less overall and two-thirds (64%) say they are less likely to take out a loan, according to a new survey from The Harris Poll.

The poll also found that Americans are weaning themselves from plastic with one-third (33%) saying they are using their credit card less often than before.

Harris Interactive surveyed 2,681 U.S. adults between May 11 and May 18.

“The economic crisis has profoundly affected consumers’ spending, saving and borrowing. Despite some shots of good news about the economy, consumers are not ready to start spending as they did before the economic crisis,” noted the The Harris Poll press release.

Other poll findings include:
• One in five (21%) of those with personal savings and one in 10 (10%) of those with retirement savings have added bank savings and CD’s to their portfolios in the past six months.

• People are as likely to have added to stocks and mutual funds in their personal savings (8%) as to have moved personal savings out of stocks and mutual funds (9%). With their retirement savings, 10% have moved their retirement funds out of stocks and mutual funds and 7% have added to stocks and mutual funds.

• Many Americans have no cushion to weather a downturn, now or in their retirement years. Almost one-quarter of Americans (22%) say they have no personal savings and three in ten (30%) have no retirement savings.

• More than 4 in ten 40-49 year olds (45%) and 50-64 year olds (41%) year olds say they have used their credit cards less in the past six months. Four in ten of those earning $75,000 or more (41%) have used their credit cards less.