WSFS Bank's Annual Money Trends Survey Signals Shift to Purposeful Spending as Consumers Redefine Financial Habits

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Regional households are spending differently, with more focus on where their money goes

WILMINGTON, Del.--(BUSINESS WIRE)-- Regional consumers are rewriting their financial playbooks. Rather than simply reacting to economic headwinds, households are showing increasing levels of financial mindfulness, and are evaluating how they spend, borrow, and save. According to the annual Money Trends survey from WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), this behavioral shift is underscored by the fact that 39% of respondents report spending less overall than they were a year ago.

The survey, which polled residents in the Greater Philadelphia and Delaware region, found that financial flexibility and deliberate allocation have become priorities for consumers. While essential expenses continue to account for a large portion of household budgets, consumers are responding well and taking a proactive approach to their finances. For those experiencing higher spending, rising costs and inflation were reported as the most common cause (77%), followed by increased income (28%), and unexpected emergency expenses (26%).

“The findings reveal an interesting evolution in consumer behavior,” said Shari Kruzinski, Executive Vice President, Chief Consumer Banking Officer, WSFS Bank. “Local residents aren’t just cutting back out of necessity; they are making a strategic shift toward more intentional spending. We are seeing consumers evaluate purchases, ask better questions, pause before making an impulse purchase, and choose debit options over credit. Consumers are finding innovative ways to make every single dollar work harder for them.”

Shifting Habits and Debt Caution

Households are also becoming much more deliberate about taking on debt and prioritizing financial stability. Among the 39% of respondents who reported spending less than the year prior, the most common discretionary categories they’ve reduced included restaurants (38%), travel and vacations (35%), online shopping (33%), and entertainment (32%). For the 32% of respondents who reported spending more than the year prior, the most common categories were household essentials including groceries (67%), utilities (55%), transportation (44%), and housing (44%).

Regional residents are also optimizing modern banking technology to manage day-to-day finances, with the use of payment apps and digital wallets significantly increasing since 2023 (67% and 54%, respectively). Payment apps including Venmo and Zelle are the most regularly used payment method (73%), followed by digital wallets (64%), and cash/check (47%). By leaning into debit-based structures, consumers are intentionally moving away from high-interest consumer credit, like Buy Now, Pay Later.

“It’s encouraging to see how intentional consumers have become about their spending. Our clients are thinking further ahead about their financial future and approaching debt management with a new perspective. True financial resilience isn’t achieved by reacting to headline economic indicators. It’s built through strong, consistent habits, implemented over time,” explained Kruzinski.

Opportunities to Maximize Savings

The survey further emphasizes this mindset by highlighting the specific actions consumers are taking to protect their financial well-being, with top strategies including avoiding loans (30%), cutting non-essential spending (28%), and reducing credit spending or debt (25%).

Although the survey shows consumers are working hard to save money, it also highlighted a critical awareness gap in savings products, with 24% of respondents unaware of high-yield money market accounts, 19% unfamiliar with money market accounts, 18% unfamiliar with certificates of deposit, and 16% unfamiliar with high-yield savings accounts.

“As a banker, I’m concerned about the regional savers who are missing prime opportunities to maximize savings and build wealth. These awareness gaps present a major opportunity for financial institutions to step in and help consumers,” Kruzinski said. “Households are sending a clear message. This isn’t just about paying more at the grocery store. It’s a full shift in mindset. In our daily client conversations, we are seeing a community eager to build long-term financial flexibility. By sharing knowledge of the and tools available, we can ensure this behavioral shift results in positive results for our local communities.”

Learn more about the survey at wsfsbank.com/moneytrends.

Survey Methodology
The survey was conducted by research company Opinium. The sample includes 1,022 respondents in the Greater Philadelphia and Delaware region who reside in five southeastern Pennsylvania counties (Bucks, Chester, Delaware, Montgomery, and Philadelphia), four southern New Jersey counties (Atlantic, Burlington, Camden, and Gloucester), and all three Delaware counties (Kent, Sussex, and New Castle). All respondents were ages 18-55. The online survey was conducted from February 12-March 12, 2026.

About Opinium, Inc.
Opinium is an award-winning strategic market research and insights agency built on the belief that in a world of uncertainty and complexity, success depends on the ability to stay on pulse of what people think, feel and do. Creative and inquisitive, Opinium is passionate about empowering clients to make the decisions that matter. The company works with organizations to define and overcome strategic challenges – helping them to get to grips with the world in which their brands operate. Opinium uses the right approach and methodology to deliver robust insights, strategic counsel and targeted recommendations that generate change and positive outcomes.

About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region. As of June 30, 2026, WSFS Financial Corporation had $22.7 billion in assets on its balance sheet and $101.7 billion in assets under management and administration. WSFS operates from 114 offices, 87 of which are banking offices, located in Pennsylvania (58), Delaware (38), New Jersey (14), Florida (2), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management, and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Trust Advisors, LLC, Bryn Mawr Trust®, The Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane Finance®, WSFS Wealth® Management, LLC, WSFS Institutional Services®, and WSFS Mortgage®. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260729736007/en/

Media Contact: Ashley Williamson
(215) 864-1761
Awilliamson@wsfsbank.com

Source: WSFS Financial Corporation