Is Being Frugal ‘Tacky’? Survey Reveals How Most Americans Feel About Saving
Written by
Adam Palasciano
Edited by
Amber Barkley
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If you’re feeling like everything is expensive these days, you’re not imagining it. Year over year, costs are going up for Americans.
The Bureau of Labor Statistics (BLS) indicated that as of 2023 — the most recent data available — average annual expenses for a U.S. household totaled $77,280, which breaks down to $6,440 a month. This figure includes the cost of housing, food, transportation and healthcare, among other categories.
To put this into perspective, the same average annual expenses for a U.S. household totaled just $72,967 in 2022. That’s a 5.9% increase in just one year. And, in 2021, the same figure was $66,928, which is 13.4% less.
With today’s rising costs, you might feel compelled to be a bit more frugal, albeit embarrassed by it. However, the majority of Americans in 2025 think that frugality is no longer taboo.
According to a new survey conducted by Talker Research for Chime, 61% of people say being frugal is no longer “tacky.”
Being Frugal Is No Longer Uncool in 2025
As part of Chime’s Financial Progress Month, 4,000 Americans were surveyed online between March 13 and March 21, 2025, and respondents were evenly split by gender and generation. Here are some of the highlights:
- 45% of respondents said they’re more willing to discuss their finances today than five years ago.
- 46% of respondents agreed frugality is smart.
- 43% of respondents said “avoiding unnecessary spending” is part of being frugal.
- 72% of respondents said discussing budgets is now “socially acceptable.”
Per the report, Janelle Sallenave, chief spending officer at Chime, said, “Taking control of your financial future isn’t just about having the right tools — it’s about feeling confident, building good habits and having a strong support system.”
She added that talking about money enables people to learn more about it and “make informed financial decisions.”
The survey results clearly show that, on the whole, Americans are beginning to feel less shame and embarrassment about being frugal, and they’re talking about money more often. Along with normalizing frugality, making money talk less taboo is surely a step in the right direction.
‘Financial Progress’ Means Different Things to Different Generations
While views on frugality are shifting, different generations have their own definitions of “financial progress.”
- 32% of Gen Zers said it’s being able to spend freely at the grocery store.
- 31% of millennials focused on wealth-building — being able to make their money grow.
- Other generations were more utilitarian: They said financial progress was about having more money than they need to pay bills.
Speaking of financial progress, the good news is that close to half — 43% — of respondents said that, compared to five years ago, they’re in a better financial situation now, though that depends on generation. More younger Americans tended to feel that they’re doing better, with 55% of Gen Zers reporting positive changes, while 38% of boomers actually said they’re doing worse, financially.
Ultimately, being frugal is more socially acceptable than it was 10 years ago, and that’s a good thing. It may allow you to stay within budget, save money and invest in your future.
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