Study: People are Tracking Spending More Closely — Should You?

A new NerdWallet survey finds that 83% of Americans say rising prices and the cost of living have pushed them to track their spending more closely in 2026, as inflation remains elevated above pre-pandemic levels [1][6]. The online survey, conducted by The Harris Poll from May 5-7 among 2,072 U.S. adults, carries a sampling precision of +/- 2.7 percentage points at a 95% confidence level [1]. The findings arrive as the U.S. Bureau of Labor Statistics reported that consumer inflation rose 3.8% year-over-year in April and 4.2% in May, the highest since the COVID-era inflation spike tapered in May 2023 [1]. The global inflation surge that began in mid-2021 saw the United States record its highest inflation rate since 1981 before a sharp decline in 2023, though economists note that consumer prices are unlikely to return to pre-pandemic levels [6]. Beyond price pressures, 73% of respondents said the realization that they were spending more than they thought contributed to closer tracking [1]. Two-thirds, or 66%, cited a specific goal as a motivator, while 43% pointed to a major life change such as buying a house or starting a family [1]. Concern about job loss drove 42% to monitor spending more carefully [1]. NerdWallet, founded in 2009 by Tim Chen and Jacob Gibson, operates a personal finance website and app that earns revenue by promoting financial products [8]. The survey also noted that having a savings goal correlates with consistent saving behavior: 75% of employed Americans with a savings goal regularly save a portion of their income, compared with 62% of those without one [1]. A separate NerdWallet Financial Resilience Index found that only 63% of Americans had enough cash to cover an unexpected $1,000 expense [1]. The U.S. inflation rate stood at 2.7% as of July 2025, above the Federal Reserve's 2% target, leaving open the question of whether further interest rate adjustments or a recession will bring rates lower [6].