As whispers of a potential recession grow louder, Americans are rethinking their financial habits, adopting new strategies to weather economic uncertainty. From cutting back on spending to boosting savings and rethinking investments, people across the U.S. are taking proactive steps to protect their wallets. A recent survey highlights these shifts, revealing how fear of a downturn is reshaping the way Americans manage money.
Recession Worries Take Hold
Economic indicators—rising inflation, slowing job growth, and volatile markets—have fueled concerns that a recession may be on the horizon. While economists debate the likelihood, everyday Americans aren’t waiting for clarity. A StudyFinds survey, conducted in May 2025, polled 2,000 adults and found 68% are “very” or “somewhat” worried about a recession, with 73% saying they’ve already started changing their financial behavior to prepare.
The memory of past downturns, like the 2008 financial crisis and the pandemic-induced slump, lingers. Coupled with recent pressures—higher grocery and gas prices, climbing interest rates, and supply chain snags—many feel the need to brace for tougher times.
Tightening the Belt
One clear trend is a pullback on spending. The survey shows 62% of respondents have cut non-essential purchases, like dining out, entertainment, and luxury goods. “We’re cooking at home more and skipping the $5 lattes,” said Sarah Thompson, a 34-year-old teacher from Ohio. Subscription services—streaming, gym memberships, and more—are also on the chopping block, with 45% canceling at least one in the past year.
Frugality is in. Americans are hunting for deals, with 58% using coupons or discount apps more often and 41% buying in bulk to save on staples like food and household goods. Secondhand shopping—think thrift stores and online marketplaces—has spiked, with 37% saying they’ve turned to used items to stretch their dollars.
Saving More, Borrowing Less
Building a financial cushion is a priority. The survey found 54% of Americans are saving more than they did a year ago, often redirecting cash from reduced spending into emergency funds. “I’m aiming for six months of expenses, just in case,” said Mark Rivera, a 42-year-old mechanic from Texas. Banks report a rise in savings account deposits, and 29% of respondents have opened high-yield savings accounts to earn better returns.
Debt is another focus. With interest rates up, 48% are paying down credit card balances or loans faster, wary of rising costs to borrow. Applications for new credit have dipped, and 33% say they’re avoiding big purchases, like cars or homes, that require financing.
Rethinking Work and Investments
Side hustles are booming. The survey shows 39% of Americans have taken on extra work—freelancing, ridesharing, or selling goods online—to boost income. Some are also delaying major life decisions, with 27% postponing homebuying and 19% holding off on retirement due to market uncertainty.
Investment habits are shifting, too. Spooked by stock market swings, 43% have moved money to safer options like bonds, CDs, or cash. Others are diversifying, with 22% exploring real estate or precious metals. “I’m not betting it all on stocks anymore,” noted Emily Chen, a 29-year-old graphic designer from California.
A New Financial Mindset
Experts say these changes reflect a mix of caution and resilience. “Americans are adapting—prioritizing essentials, building safety nets, and getting creative,” says Dr. Laura Bennett, an economist at StudyFinds. But challenges remain: wages aren’t keeping up with inflation for many, and 31% of survey respondents still feel “one paycheck away” from financial trouble.
As recession fears loom, Americans are proving adaptable, reshaping budgets, habits, and goals to navigate an uncertain future. Whether these shifts stick depends on the economy, but for now, caution is king.