Question of the Day: _____ out of 3 Americans are limiting their spending each month

Dec 15, 2019
Behavioral Finance, Question of the Day, Budgeting, Podcasts, Purchase Decisions

 Answer: 2 out of 3 (66%)

Here are the reasons they gave for limiting spending:


  • Have you ever felt like you needed to limit your spending? Why?
  • What do you think are the main reasons your peers would give for following a budget or limiting their spending?
  • What do you think is a better saving strategy?
    • Wait until the end of the month and save what’s left over
    • Set aside your saving at the beginning of the month and spend whatever is left over after saving
  • Do you have a budget now? If not, do you have a sense of what you have spent money on in the past month?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers: (


A new Bankrate survey finds that 66 percent of Americans are limiting their spending each month. Among those who are curbing their spending, 36 percent are doing so to save more money (24 percent of all respondents).

With more than 60 percent of Americans unable to cover a $1,000 emergency with savings, it’s good news that some are willing to sacrifice to start building cushions for the future.


Listen to this podcast from Morningstar's Sarah Newcomb and get a different take on budgeting wants vs. needs. 



About the Authors

Beth Tallman

Beth Tallman entered the working world armed with an M.B.A. in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducting student workshops, and developing finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.