BUFFALO, N.Y. (WKBW) — A new poll is showing a majority of New Yorkers feel the war in Ukraine is having a serious impact on their finances and will haunt the American economy for years.
According to the Siena College poll, released Thursday morning, 54% of New Yorkers are worried about the long-term impacts the war will have on Americans.
Just under one-third of people who responded to the poll said they feel the war will end soon and have short-term economic repercussions but that the average American's finances would be largely unaffected in the long term.
Inflation and Personal Finances
About 70% of people who responded say that inflation is having at least somewhat seriously impacting their personal finances.
A vast majority of people are worried about the current economic climate and the war in Ukraine's impact on it — specifically where food, gas and home utilities are concerned.
Because of the rising prices on many items caused by inflation, many people say they're going to make changes to make ends meet:
- 69% of people will buy less in general
- 67% will buy cheaper items
- 28% will dip into personal savings to cover everyday expenses
- 35% plan to get a second job
- 34% will postpone or cancel a vacation in the next six months
“We will have to wait and see how the economy reacts this spring and summer and what the impact of war in Ukraine will be, but for now, New Yorkers weary from two years of COVID, are expressing economic concerns that will pre-occupy their decisions and perhaps slow economic activity in New York,” Siena College Research Institute Director Don Levy said.