Americans Hate High Prices but They Keep Spending Money Anyway

Story by Emily Stewart

“There is, of course, a needs vs. wants question here... people conflate what is a need, what's a reasonable expectation, and what sorts of trade-offs they perhaps should make to achieve their financial goals. None of us [has] to subscribe to six streaming services or escape to a lavish weekend getaway, even if we tell ourselves that's what we deserve … People are averse to loss, and having to change their lifestyle to fit newfound financial constraints feels like losing. … If consumers hadn't gone along for the ride on price hikes, companies couldn't have undertaken them in the way they did. Financial products such as buy now, pay later have also made it easier to buy something you can't entirely afford at this very minute. … [Jordan] Hart, the Illinois writer with a brand-new Stanley cup, sees some of her spending as a way to reclaim power. ‘You don't have a choice in the economy and inflation and how that's affecting you, but you kind of have a choice in how much you let it alter your lifestyle," she said. "It feels like you're admitting defeat if you're just like, Well, now it's just expensive, so I won't do it.’ … Maybe we're all angry spending soldiers, refusing to be deterred.”

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