In March 2009, Mom Central Consulting surveyed nearly 1200 Moms from around the country about the impact of the recession on their families. For the entire report please click here.
We learned:
Moms are cutting back:
- Nearly 75% of Moms are cutting back spending on their children, while 26% say they’re making significant cuts.
Moms are teaching fiscal responsibility:
- 24% of Moms say their children think that money “grows on trees," and 71% say they expect their kids to work to earn spending money.
Moms are stressed and anxious in these difficult economic times:
- 32% of Moms are worried about the economy or their job stability.
How are they saving money and tightening budgets?
- 84% no longer eat out
- 76% no longer buy items for themselves
- 57% stopped going to the movies
- 56% forgo extravagant gifts on holidays/birthdays
- 49% have cut back on groceries
- 37% no longer take big family vacations
What are the top stressors for Moms?
- 66% say they feel stress from trying to save money in general
- 56% are stressed from trying to pay house bills
- 44% are stressed from trying to pay grocery bills
How are Moms teaching their tweens/teens about fiscal responsibility?
- 81% encourage them to “price shop” before buying to get the best value
- 72% shop at discounted stores
- 53% rent movies at home instead of going out
- 49% of Moms have opened a savings account for their tweens/teens
- 23% encourage them to carpool, walk, use public transport or ride their bikes
- 9% have given their kids debit instead of credit cards.
What do Moms consider the top 7 key habits to learning fiscal responsibility?
- 84% learning to save
- 83% appreciate with you have instead of what you want
- 81% recycle or donate old items
- 80% find ways of having fun that are not expensive
- 75% use coupons
- 73% appreciate the value of a dollar
- 71% work to earn spending money
Want to see the entire report? Please click here.
For additional information, please contact Tracey Hope-Ross at tracey@momcentral.com
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