(WXYZ) — From the grocery store to the gas pump, many people are feeling the strain of higher prices. With that, I asked Metro Detroiters what expenses they've been cutting back on this year.
"Maybe groceries, excessive spending," said James Armstrong. "Being a little more cautious now.”
"What about recreational spending? Like movies and vacations?" I followed up with.
"Definitely, yes," James responded.
"(I've cut back on groceries) a bit because I don’t need what I thought I needed, right? Prices are high," said Southfield Resident Regina Olden.
In some cases, people are trimming their health-related spending.
“Has it caused you to maybe put off some health care appointments or maybe wait to do a prescription refill?” I asked Farmington Hills resident Jean Khoury.
“I wouldn’t say a prescription refill," Khoury said. "I would say health appointments for sure.”
She's not alone.
“I have had some prescription refills that I have skipped – nothing that’s going to kill me I guess," said Southfield resident Grefunda Berga. "But those are some things I’ve had to cut back on.”
According to a recent University of Michigan national poll on healthy aging, surveying 3,300 people across the country who are 50 or older, 16 percent of adults in the past year said they had trouble paying for health insurance, prescription drugs or health care services, or delayed or did not get needed health care.
“We found that those who reported fair or poor mental health or physical health were more likely to report these types of cuts, suggesting that people who already are more vulnerable or are in poorer health status are more likely to then make further cuts that can contribute to poorer health down the line," said Erica Solway to me over Zoom.
Solway is the Deputy Director of the University of Michigan national poll on healthy aging, which included more than 1,000 people in Michigan 50 or older.
“When you look at the results from the national poll and the specific results from Michiganders, what stood out to you?” I asked Solway.
"Unfortunately, older adults in Michigan appeared to be faring a little bit worse than those in the country as a whole," Solway said.
The poll found 52 percent of people aged 50 or older outside Michigan said they had to cut back on spending. 16 percent said they had felt a lot of stress about their finances. This is compared to 58 percent of Michiganders reporting cutting back on spending, and 21 percent of them reporting feeling a lot of stress about their finances.
Where were cutting back the most? Social and recreational activities.
"Definitely no date nights," Berga said. "Our date nights are spent at home now.”
Another interesting finding is that people 50-64 were more likely to cut back on their spending those aged 65 or older, which is surprising, because researchers said we tend to think of people 65 and older as being more likely to be living on a fixed income and needing to cut back, versus people younger than they are tightening their belts.
But cutting back on health related spending was a big concern, because of the potential impact to health down the road. If you need support, talk to your health care provider about payment plans or prescription drug discounts, or reach out to the state for assistance by going to Michigan.gov or by calling 2-1-1.
