U.S. citizens, worried about the state of the economy, are now planning to spend less on buying holiday gifts and cut down on shopping this holiday season. According to a survey by the University of Michigan, consumer sentiment declined 15.7 percent year-on-year to 56.8 in November. On a monthly basis, it fell by 5.2 percent….

Rapidly rising high inflation rates are causing Americans to feel insecure about dipping into their emergency savings, according to a June 23 survey from Bankrate.com. The rise in everyday living expenses due to inflation throughout the country has forced Americans to reassess their household budgets. Inflation in May hit a 40-year historic high, forcing the Federal Reserve…

The personal savings rate of Americans has dipped to the lowest level in 14 years as sky-high inflation takes a big chunk of people’s budgets. The U.S. personal saving rate, as a percentage of disposable income, fell to 4.4 percent in April, down from 5 percent in March, the lowest since 2008. The savings rate…