The upcoming midterm elections have Americans putting off large financial decisions.
That's according to a new survey from cash back and shopping platform Smarty, which found that half (50%) of Americans have postponed a major financial decision due to uncertainty surrounding the economy and the looming November elections. The trend crosses political lines, as 57% of Democrats, 55% of independents and 43% of Republicans say they have postponed a major financial decision.
Twenty-six percent of those surveyed say they are postponing travel or vacation spending until after the election, while 25% are delaying a vehicle purchase and 19% are holding off on investing money. Eighteen percent are delaying a discretionary purchase of $1,000 or more. Buying a home (16%) and major home renovations (16%) are also among the activities being delayed until after election day.
Cost of living was the top voting issue among those surveyed, cited by 52% of respondents, followed by inflation at 45%. Other frequently selected issues include healthcare (26%), taxes (22%(, housing (19%) and immigration (18%).
[READ MORE: Mastercard Economic Institute: Holiday spending to rise 5.5% year over year]
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