Gas Prices Impact Employee Spending Habits
Some 41% of employees say they are driving less or combining trips to lighten the burden of rising gas prices, according to a survey by ComPsych Corporation, a leading provider of employee assistance programs. Another 22% said they have cut household spending and 13% have put off vacation time because of fuel costs.
The continued climb of fuel costs has caused employees to rethink their commute as well as their household expenditures. ComPsych says the financial calls they receive have shown a renewed interest in budgeting, as families and individuals struggle to offset the gas premium by saving on other areas.
Employees were asked: Have rising gas prices caused you to change your habits? In what way have you been affected most? The responses:
- 41% drive less often/combine trips
- 22% have cut spending in other areas (groceries, entertainment, clothing)
- 13% have canceled or put off vacation/trips
- 8% carpool to work/take public transportation/telecommute when possible
- 16% have not changed habits
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