Do Your Political Views Color How You Handle Money?

Alamy For the Presidents Day holiday, the coupon websiteRetailMeNot (SALE) conducted a survey to see how people’s political leanings and financial habits aligned.

Consumers were asked to select their political affiliations (e.g. “conservative,” “liberal,” “Democrat,” “Republican”) and then queried about everything from their personal debt ceilings to their savings habits, spending plans, and investing practices.

While not every question yielded a perfect correlation between political stereotypes and spending/saving habits, the survey did show that consumers who call themselves conservatives are more likely to describe themselves as savers (66 percent vs. 53 percent of liberals calling themselves savers). On the flip side, consumers who label themselves as liberals are more likely to call themselves spenders (47 percent vs. 34 percent of conservatives who say they’re spenders).

Other findings blur the party lines a bit: As far as shopping the economy back to health, liberals and moderates plan to shell out some big money this year (on a new or upgraded big-ticket item like a tech gadget, furniture, or appliance). Just 56 percent of conservatives say they intend to make a major purchase this year, compared to 71 percent of liberals and 66 percent of moderates.

When you look at your own spending habits, do you see a correlation with your political leanings? Chime in below. The online survey was conducted Dec. 26-Jan. 3 and involved 1,014 U.S. residents 18 and older, reached via an email invitation.

Michele Lerner has no position in any stocks mentioned. The Motley Fool recommends RetailMeNot. Try any of our newsletter services free for 30 days. ​

Leave a Reply

Your email address will not be published.