What Are College Students Cutting Back On?
Just 24.5% of college students will decrease discretionary spending
College students might not be as broke as we think, but a significant portion of them plan to spend less this year than they have previously—particularly on school-related items.
An August 2014 survey by ad tech company Fluent found that 44.2% of US college student internet users planned to spend less this year on school items because they already owned much of what they needed. Nearly 28% said they were spending less on school items because they would find ways to cut costs—even if they needed certain things.
What isn’t taking as much of a hit among college students is discretionary spending. Just 24.5% intended to cut back in this area. Meanwhile, one-third planned to spend more on coffee, concert tickets and other fun items than they did previously.
When making their back-to-school purchasing decisions, college students are mostly influenced by what their friends have to say. Some 93.6% said they found one-on-one recommendations from friends at least somewhat influential. Online sales and coupons don’t hurt either. Less than 10% said these were not an influential factor when deciding to buy something.
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