RIVERWOODS, Ill. — Discover Card's brand new Spending Confidence Monitor has found falling consumer confidence and an unwillingness among cardholders to spend, the brand reported.
The survey revealed the decline in spending confidence coincides with an increased number of consumers facing money shortages along with a decreased confidence in personal finances, Discover said.
Thirty percent of consumers felt their personal finances were improving compared to 34% last month. Additionally, consumer confidence in managing their budgets declined as fewer (49%) reported having money left over after paying all of their bills compared to last month (55%). Of those consumers who did have money left over, 78% were expecting to have the same or more money left over in July as well.
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