Many Californians have permanently altered their saving and spending behavior and are feeling better about the economy's prospects, according to a survey by Citibank California.
A total of 60% of those responding to Citibank's quarterly survey said they had cut back on credit card purchases, discretionary spending and holiday travel plans, the bank said Tuesday.
The top two ways Californians have curbed spending are to splurge less in restaurants (71%) and on clothes (69%). Survey respondents said they were also going to the movies less, buying fewer name-brand items and deferring home improvements.
Consumers have shown reluctance to cut back on cellphone and Internet use, said Rebecca Macieira-Kaufmann, president of Citibank California.
"People seem to be prioritizing social networking over spending money on food or clothes," Macieira-Kaufmann said.
The survey, taken from a random sample of 1,206 respondents, found that 63% of consumers were reducing credit card purchases, 55% were working to lower debt, and 54% were postponing a major purchase.