Lone Star state residents shared whether they have more or less disposable income now than a year ago, with the majority of people saying they had roughly the same amount of spending cash on hand, but that it’s not going as far.
Isabella, a college student living in Austin, said she felt she had about the same amount of money in her pocket this year despite getting a better job.
“I feel like it’s about the same,” she told Fox News. “Even though I feel like I’ve gone up economically in terms of my work, I’m still having to spend more money on stuff.”
“Things are so expensive,” Isabella said. “Everything — my groceries — literally everything that I spend money on.”
VIDEO: AMERICANS DIVULGE HOW ECONOMY HAS AFFECTED THEIR SPENDING CASH
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Fifty-seven percent of registered voters said they had less money in their pocket this year than in 2022, according to a Fox News poll released Sunday. The figure marked an increase of 7% from February 2022, Fox News reported.
“I’d say for me personally, it’s about even,” Phil, an Austin resident, told Fox News.
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“But I know that a lot of people don’t have as much spending [cash] as from a few years back,” he added.
Inflation rose half a point in January, marking a 6.4% over the last 12 months, the Bureau of Labor Statistics reported. Meanwhile, American’s average hourly earnings are down 1.8% from January 2022.
CONSUMER CONFIDENCE SLIPS AGAIN
Victoria, a recent Austin transplant, said she had either the same amount of spending cash or less compared to 2022.
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“The prices of things cost more here,” she said of Austin’s cost of living versus that of San Antonio, her hometown. “Just food and rent and everything.”
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Consumer prices for shelter increased 7.9% from January 2022 to January 2023, according to the Bureau of Labor Statistics, marking the most significant 12-month spike since June 1982.
To hear more Americans share whether they have more or less disposable income this year versus last, click here.