Leading-edge Baby Boomers (born 1946-1955) are more likely (40%) to report spending more than a year ago, according to Gallup, while only 21% say they are spending less.
But trailing-edge Boomers (born 1956-1964) are actually more likely to say they’re spending less (30%) than more (36%).
Non-discretionary categories such as groceries and utilities are eating into consumer budgets resulting in less spending on such discretionary items as travel and consumer electronics.