TopCashback
Press release Study / Data

National Savings Day: Survey Finds 94 Percent of Americans Disclose Shopping Discounts, Deals and Steals with Friends and Family

While its no secret Americans struggle to save money, TopCashback.com, the USA’s most generous cashback rebates and coupon site, found shoppers enjoy discussing their spending and saving strategies with friends and family.

The results are based on a survey answered by a cross-section of 980 US adults, aged 18 and over, conducted in the month of August 2018. TopCashback analyzed disclosure and communication patterns amongst Americans to determine if they are open about money-saving strategies.

Whether consumers are buying things routinely or saving for a big purchase, they are not afraid to disclose their financial feats. An astonishing 94 percent of participants were transparent on much money they saved on a shopping spree. Two-thirds (66 percent) of Americans have spent money on a big-ticket purchase and shared how much cash it set them back.

“Americans have a unique relationship with finances and spending,” said Chelsea Hudson, Personal Finance Expert at TopCashback.com. “They have an urge to splurge but typically frown upon frugality and financial transparency since it is a social taboo. Overspending just to avoid a stereotype is a recipe for financial disaster.”

Top Transparent Purchases:
Automobile (72%)
House (57%)
Holiday/Travel (55%)
Tech (53%)
Accessories (i.e. handbag, shoes, sunglasses) (38%)

Top Transparent Savings:
Tech (67%)
Clothes (67%)
Automobile (67%)
Accessories (i.e. handbag, shoes, sunglasses) (61%)
Groceries (58%)

However, Americans value ambiguity regarding certain purchases. The most popular purchases consumers continue to keep a secret include a date (23 percent), an engagement ring (18 percent) and a gathering, such as a party (17 percent).

“It can be difficult to resist the temptation and instant gratification that comes with saving and spending money,” Hudson explained. “Overspending is easy. Fortunately, there are ways to combat overspending such as never paying full-price, stacking your savings and shopping via a cashback site, such as TopCashback.com.”

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About TopCashback.com

TopCashback.com is the USA’s most generous cashback shopping site. It offers Americans savings and money back on everything they buy when clicking through the site to the 4,000 retailers available. TopCashback lists well-known brick and mortar stores, such as Walmart, Best Buy, GNC, Neiman Marcus, Macy’s and Bloomingdale’s, in addition to popular online businesses, including eBay, Amazon, Overstock, GiftCards.com, Hotels, Expedia, Groupon and so many more. TopCashback also provides a big selection of coupons, supplying extra instant money-off discounts and free shipping, to use in conjunction with earning cashback.

It passes all the commission – the entire amount – that retailers pay it, to advertise their products and services, back to its members. It’s completely free to join and use, with no catch.

The site has more than two million members and will celebrate its seventh birthday this year. Members can have their cashback earnings deposited straight into their checking account or withdraw it in the form of PayPal credits, Amazon vouchers, American Express® gift cards or selected merchant partners’ gift cards, the latter three of which are topped up with a bonus. Cashback is paid out as soon as funds are requested and there is no minimum amount necessary to withdraw.

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