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41% of 50-64s cut grocery spending, AARP finds

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Story summary
  • AARP reports 41% of adults aged 50-64 reduced grocery spending last month.
  • 58% of surveyed older adults cut dining-out expenses, while 52% trimmed entertainment spending.
  • Housing economist Christopher Mayer says grocery cuts signal pressure on older homeowners, who may skip insurance.
  • If household income fell 5%, 61% would use savings, over a third credit cards, 45% seek cheaper options.