“Fear of rising prices causes many people to stockpile all sorts of items, from toilet paper to electronics,” says John Egan, credit cards and personal finance expert at CreditCards.com. “While it makes sense to stockpile certain items to avoid tariffs, only buy what you actually need and will actually use. Otherwise, you might wind up overspending.”
Since November, 48% of Americans say they’ve made a purchase over $500, including electronics (22%), home improvement materials (18%), appliances (14%), cars (12%), furniture (12%), and homes (4%). Again, fear of rising prices was a common motivator — 36% say it played a major role, 22% say a small role. Harris voters (67%) were more likely than Trump voters (51%) to cite this concern.
Spending patterns continue to shift in April. While 45% say their spending will remain the same, 15% expect to spend more and 41% plan to cut back. At the same time, 28% of Americans say they’re likely to go into or worsen their credit card debt this year, including 9% who say it’s very likely.
Doom spending remains consistent with February levels. Five percent say their recent spending definitely qualifies, 13% say probably, and another 19% are unsure. Doom spending is more common among Harris voters (26%) than Trump voters (14%).
“Economic uncertainty often causes people to cut back on spending. But amid the threat of tariffs on U.S. imports, some people might stockpile, make big purchases or engage in ‘doom spending,'” Egan says. “Unfortunately, these behaviors can lead to piling up credit card debt. Ideally, you should use cash for purchases in situations like this and set aside as much money in savings as you’re able to.”
This survey was conducted online by YouGov between April 11 and April 14, 2025, using a nationally representative sample of 1,000 U.S. adults. The adjusted margin of error is approximately 3.57%.
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SOURCE CreditCards.com
