Mediteraneo – stock.adobe.com
Americans are making spirited decisions about their money.
Nearly one in four New Yorkers admit to turning to booze when faced with major financial decisions, according to a national survey.
New York’s 24% is above the national average of 21%. New Jersey came in at 20%.
“In my place, this is where deals would be done,” said Doug Quinn, owner of East 53rd Street watering hole Hudson Malone, whose past and present clients include singer George Michael, hockey legend Wayne Gretzky and actor Benicio del Toro. Quinn suggested the New York number could be a “hangover” from the stressful pandemic.
“People do have a drink when they make good [financial] decisions and bad decisions also!” cracked a nonplussed Kim — who declined to give her last name — a server at the Bay Street Tavern on Staten Island.
Half of the 3,000 NY respondents said reducing stress was their primary reason for drinking — and 41 % percent regretted doing so, according to the intoxicating June survey by cardrates.com, a credit card advice website.
Arizona residents are most likely to binge and budget, with 38% admitting to hitting the bottle, the survey says. Conversely, only 9% of Utah residents needed drink to think about money matters, according to the poll.
The survey also explored which financial decisions most commonly lead to alcohol consumption.
Tops was filing for bankruptcy (32%), followed by taking out a loan (15%); dealing with credit card debt (13%); retirement planning (11%), divorce (10%); changing jobs (8%); buying a car or home (6%) and investing a large sum (5%).
Almost two-thirds of New Yorkers acknowledged imbibing impairs their ability to make sound financial decisions, but a “concerning” 18% of respondents said they believed hitting the bottle actually improved their decision-making abilities, the survey said.