The 4th of July is one of America’s most treasured holidays, and Americans typically celebrate the anniversary of their independence with massive parades, flashy fireworks displays, family gatherings, beach trips and more. While during the past two years celebrations were restrained due to the impact of the COVID-19 pandemic, this year the country has very few restrictions thanks to the distribution of the vaccine.
Despite the greater freedom to celebrate, though, two-thirds of Americans will spend less money on July 4th this year than they did last year, according to a recent nationally representative WalletHub survey. A big reason for this decrease in spending is rising inflation, which is causing Americans to make fewer non-essential purchases related to the holiday and to travel less.
WalletHub’s survey examined both Americans’ plans for Independence Day and their opinions on freedom and patriotism in light of current events.
- Inflation is hurting celebrations. 57% of Americans say that inflation is affecting their 4th of July plans.
- Americans support USA goods. 65% of Americans say they make an effort to buy things made in the USA.
- Financial independence is shaky. Only 56% of Americans feel financially independent this 4th of July.
- Summer spending is down overall. More than half of Americans will spend less money this summer than last year.
- Saving vs. spending. 64% of Americans believe saving money is more patriotic than spending it.
This report reflects the results of a nationally representative online survey of over 350 respondents.
After we collected all responses, we normalized the data by age, gender and income so the sample would reflect U.S. demographics.
Full Details Overall
|Are you spending more or less money this 4th of July than last year?|
|Are you planning to go shopping this 4th of July?|
|Are you spending less or more money this summer than last year?|
|Do you make an effort to buy things made in the USA?|
|Is inflation affecting your 4th of July plans?|
|Do you feel financially independent this 4th of July?|
|Which is more patriotic: saving money or spending money?|
|What’s holding you back the most from living the American dream?|
|Cost of living||62%|
|Which financial activity is the most patriotic?|
|Donating to charity||20%|
Note: Percentages may not total 100% due to rounding.