Sobering up after 9-11.

• Position: Marketing News - Brief Article

We have a bit more evidence that American attitudes toward money have changed in the wake of the events of Sept 11,2001. A survey conducted by Opinion Research Corporation International detected a marked increase in emphasis in debt reduction and building savings among American consumers.

The survey, conducted earlier this year on behalf of Bank of America and the Consumer Federation of America, also disclosed reduced interest among the survey respondents in luxury goods and lottery tickets. The survey also indicated that respondents were less concerned today about the security and adequacy of their income than before Sept 11.

When asked how the events of Sept 11 and afterward affected their thinking, 33 percent responded that they now place more emphasis on personal savings, and 25 percent said their concern about debt repayment had increased. Respondents in the 25-34 age group apparently were most affected by terrorism; 38 percent said their interest in savings increased; and 37 percent said they now had less interest in playing the...