Americans Are Spending Less on Food in Order to Afford Their Technology

Americans would rather than iPhones than groceries

Would you believe us if we told you that a staggering 49 percent of Americans have decided to cut back on their spending habits in order to afford more technology? Perhaps you might. You might consider that some have cut back on their travel expenses or their extracurricular activities so that they can afford the latest and greatest that technology has to offer – because heaven forbid you have to carry that told iPhone 5s now that the iPhone 6 has been released.

The real question is whether or not you’d believe us if we told many Americans have cut back on the cost of their food to afford more technology? I wouldn’t believe it either, but I have here in front of me the results of a study performed by CNBC that proves just that. The results aren’t quite as staggering. In fact, more than a third of the people interviewed for the study admitted to eating at home more often and waiting for movies to hit DVD status before they watched them to save money for better technology. However, a very incredible 11 percent of Americans have actually cut back on their spending in the supermarket to afford new technology, which is just shocking.

Who, exactly, is cutting back to afford better technology? It’s not who you think it is. It’s women from 18 to 49 and residents who have an annual income between $50,000 and $75,000. As many as 60 percent of people from these two groups have admitted to cutting back somewhere at home so they could afford to buy better tech products.

When asked which tech product on the market is the most important, cell phones won. The people in the study were asked to choose which bill they would pay if they could only afford to pay one each month, and 39 percent chose their cell phone bill. The next closest was the internet at 28 percent. Thankfully, 92 percent of people in the study would pay their mortgage first, and then worry about their cell phones; but there’s always that 8 percent.

We suppose that supermarkets will see lower profits at the beginning of the year now that Apple announced the new iWatch is coming out on Valentine’s Day.

Photo by Mario Tama/Getty Images