Americans Losing Faith In Salary Increases

Almost 90 percent of Americans are not confident they will receive a raise over the next year, according to the American Pulse Survey.

Due to rising inflation coupled with high fuel prices, consumers are attempting to save rather than planning to earn more. More than 70 percent of those asked think they will only purchase items they need.

In order to save on gas prices, nearly 64 percent of consumers plan to drive less. Half of consumers plan to budget their finances, while nearly 60 percent will specifically spend less on clothes. A total of 42 percent will try to save at the grocery store, and close to 53 percent will increase comparison shopping.

Generic product purchases may also gain popularity, as nearly half of respondents said they would attempt to buy them more often. Less than 7 percent do not plan to make any changes to their spending habits.

Because of the struggling economy coupled with a possibility of fewer raises, those who use plastic may want to be careful with their spending habits, as credit card debt can accrue quickly.