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:
- 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.