00:00When it's time to trim your spending, many people start with luxuries like travel.
00:05That's one area where Americans are currently cutting back.
00:08Analysis from business intelligence firm Morning Consult says from April 2022 to April 2023,
00:15spending on airfare decreased by 33%.
00:17Same for hotel spending.
00:20Americans are shopping around when it comes to insurance.
00:23The Morning Consult report has Americans spending 20% less on car insurance.
00:28Restaurant spending is down 12%.
00:31Spending is up in some areas.
00:34The category of recreation, that's up 10%.
00:37Public transportation is up 6%.
00:39And home furnishing spending is up 3%.
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