We Spent A Lot Of Cash On Vices Throughout The Pandemic! | Majic 95.9

Many people have gone through financial hardship due to the pandemic, but according to a new survey, it doesn’t necessarily stop people from spending money on things they enjoy.

A new Magnify Money survey found:

  • 70% of consumers spent money on at least one truck during the pandemic.
  • 38% of users have dived into their savings to cover their vices.
  • On average, people spent $ 946 on trucks in 2020.
  • Common vices that people have spent money on are:
    • Alcohol (45%)
    • Cigarettes and Vape Pens (27%)
    • Entertainment for adults (9%)
    • Other vices are: drugs, gambling and lottery tickets.
  • But not everyone spent money on traditional vices. When asked if people were spending money on other things they consider to be vices, they replied:
    • Snacks
    • Shopping online
    • Streaming Subscriptions
    • Video games
  • Register vices contain:
    • “One liter of peanut butter ice cream”
    • “Frivolous stuff”
    • “Kickstarter campaigns and online shopping sprees”
  • 26% of men had adult entertainment, and 28% of laid-off or vacationers spent more than before the pandemic.
  • 45% of respondents admitted that they felt guilty about spending their money on vice.
  • 33% of those who were laid off or on leave actually went into debt for their vice.
  • And all of these expenses created some major family problems. A third of those who spent money on their vices said it led to an argument with their loved one.

Source:Increase money