1 in 3 Americans Skipped a Meal to Save Money This Year

Roughly one in three Americans have skipped a meal this year to save money, according to new research surfaced by Yahoo Finance and Gallup, underscoring how deep the affordability squeeze has cut into household budgets.

The data lines up with fresh work from the New York Fed showing food insecurity climbing well past pandemic-era levels, a signal that has direct implications for consumer discretionary and staples names.

What the data actually shows

Food insecurity and financial strain are rising across large parts of the U.S. economy even as broader economic conditions remain relatively stable, according to new research published by the Federal Reserve Bank of New York, which found that lower-income households, lower-educated households and families with children are experiencing increasing levels of food insecurity and economic stress.

The survey showed more households reporting trouble affording food, relying on SNAP benefits, receiving food donations and dipping into savings to cover daily expenses.

Separately, research conducted by the West Health-Gallup Center on Healthcare in America found that roughly one-third of Americans made financial trade-offs in order to afford medical care, based on a survey of nearly 20,000 U.S. adults conducted between June and August 2025. That proportion represents about 82 million people who said they had cut back on everyday expenses in order to pay healthcare bills.

The K-shaped economy is showing up in the data

The New York Fed described the trend as part of a “K-shaped economy,” where higher-income households continue benefiting from rising stock prices, home equity gains and wealth accumulation while many lower-income Americans struggle with affordability pressures.

The New York Fed noted that overall consumer sentiment has fallen near levels seen during the Great Recession and the pandemic despite low unemployment and resilient consumer spending.

For traders, that split is the story. Higher-end retail and travel names have held up while the low-end consumer keeps flashing red.

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Why the trade matters

Because it has gotten so expensive to dine out, consumers seem to be doing it less often, or are at least making plans to cut back on restaurant meals, with 66% of consumers who expect their finances to worsen in 2026 saying they intend to cut back on dining out, according to a March YouGov survey.

Bank of America also reported that higher prices are making consumers more selective about where and how often they dine out. That is a direct read-through for casual dining, quick-service restaurants, and warehouse clubs pulling grocery share.

Options market and stocks to watch

Watch for continued divergence between value-oriented and premium consumer names as the low-end squeeze plays out.

• WMT: Watch for continued grocery share gains as strained households trade down to Walmart for essentials.
• COST: Watch for membership and food-court traffic trends as consumers substitute Costco meals for restaurants.
• DG: Dollar General is a direct proxy for the low-income consumer. Watch traffic and basket size for signs of stress.
• MCD: Watch how value-menu traffic holds up as lower-income diners pull back further.
• CMG: Watch for signs the higher-income diner keeps showing up even as the low end fades.

For more on consumer trends and macro data, see other news.

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