Feeling lonely? Inflation may be partly to blame, according to a new survey.
Thirty-seven percent of Americans said they’re neglecting their friends because it’s gotten too expensive to keep up the relationship, according to a survey of 995 Americans by BadCredit.org, which provides information to help people make credit decisions.
Gen Z (44%) is the most likely to choose to save over socializing, but millennials (38%) are close behind, followed by Gen X at 36%. Baby boomers are least likely to ditch their friends, with only 23% reporting they neglect their buddies to save money, the survey said.
Sometimes, it’s more than just neglecting friends, the survey said. One in 10 said they’ve gone so far as to end a friendship because it was too expensive, and another 21% said they feel they’ve been spending more on their friends than their friends spend on them, which can lead to resentment or feelings of inequality.
“It pains me to learn that so many people are neglecting their social lives due to the high cost of living,” said Erica Sandberg, BadCredit.org consumer finance expert. “These relationships are essential.”
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How much does friendship cost?
Millennials spend the most on their friendships, averaging $482 per month, followed by Gen Z at $433, the survey said. Gen X and baby boomers spend nearly half that on their friends at $257 and $256, respectively.
Millennials spend the bulk of their monthly expenses…
