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2026-07-15 20:42:11
[Inflation Squeezes US Household Budgets, Over 30% of Consumers Use Credit Card Rewards for Everyday Essentials] ⑴ A survey of over 1,000 people by the USAA Federal Savings Bank shows that more than 35% of respondents said they have used credit card reward points for "everyday expenses," covering necessities from gasoline to cat litter, reflecting that persistent inflation is significantly squeezing household budgets. ⑵ The survey also found that reward point redemption services are popular, with nearly 80% of respondents using points at least once in the past six months, indicating that consumers are actively using existing tools to cope with financial pressure. ⑶ Since mid-2023, grocery prices have risen by more than 6%, and gasoline prices have risen by about 30 cents per gallon, while the annualized increase in inflation-adjusted hourly wages during the same period was only about 1.4%, indicating that income growth is clearly not keeping pace with the rising cost of living. ⑷ The president of the USAA Federal Savings Bank stated that as the cost of living continues to rise, practicality has become the primary consideration in household financial decisions. Consumers are shifting their spending focus from non-emergency purchases such as appliances and furniture to essential areas such as food and gasoline, and are adopting the same strategy when using credit card reward points, using points to extend their budgets to offset the impact of rising prices.
