American workers are earning $130 less per paycheck due to the 2013 payroll tax increase. In our 2013 Workonomix survey, we took a look how and where Americans are cutting back in their spending.

1. March 13, 2013
Accounting Principals
Workonomix Survey 2013

2. Survey Background & Methodology
Slide 2
*Note: Not all respondents answered all questions. Each question is marked with its respective base size in the footnotes of each slide.
Background
• Accounting Principals polled 1,020 working Americans about the impact of the changes
to the payroll tax, their spending habits, and their likelihood to work with an accountant
in 2013.
Methodology
• This telephone survey was conducted by Braun Research on behalf of Accounting
Principals among a nationally representative sample of 1,020 employed Americans
aged 18 and older.
• The survey was fielded between February 15th and 19th , 2013.
• Results have a margin of error of +/- 3.1% at the 95% confidence level.

3. Slide 3
Working Americans are taking steps to deal with
a reduced paycheck
• The payroll tax changes that took effect January 1, 2013 have a big impact on working Americans
and as a result, many are cutting back on expenses.
 On average, working Americans are taking home $130 less per month.
 As a result, their social life is suffering the most. Many have been forced to cut back on going out to
bars and restaurants (20 percent) and eating lunch out (19 percent).
 Interestingly, nearly one quarter (22 percent) of working Americans have not cut back on their spending
at all.
• For American workers, retirement funds are no longer just for retirement. Over a quarter (28 percent)
of the American workforce has prematurely pulled from their 401(k).
 American workers are tapping into their savings to cover a number of expenses including unexpected
healthcare costs (25 percent), home or car repair (27 percent), and needing money during
unemployment (22 percent).
o Men (29 percent) are nearly twice as likely as women (15 percent) to cite unemployment as the
reason for prematurely taking money out of their retirement fund.
 Interestingly, there is a notable subset of Americans who are willing to pull from their retirement funds for
nonessentials. Nearly two in 10 (16 percent) working Americans said they have used their 401(k) for
leisure expenses such as remodeling, buying a second home, buying a boat or vacationing.

4. Slide 4
Workplace spending is tough for Americans to avoid
• Working Americans need to spend to make it through the day. The majority (82 percent) of the American
workforce buys coffee regularly to the tune of roughly $20 a week, and 89 percent eat lunch averaging more
than $35 a week.
• Money spent on coffee and lunch by working Americans has remained consistent year over year.
 Working Americans spent an average of $21.32 on coffee and $36.17 on lunch in 2013.
 Working Americans spent an average of $21 on coffee and $37 on lunch in 2012.
• Younger working Americans are especially likely to buy on the go items like coffee and lunch during the work
week compared to their older counterparts.
 Four in 10 (40 percent) working Americans age 25-34 say they spend $21 or more per week on coffee
compared to just 11 percent of workers age 55-64.
 Working Americans age 25-34 are also far more likely to spend the most on lunch. Over four in 10 (44
percent) spend more than $41 per week on lunch compared to only 16 percent of those age 55-64.
• When it comes to spending at work, food continues to be Americans biggest drain on their wallet. The
majority of Americans (65 percent) say going out to lunch or buying snacks is their biggest spending pitfall
at work.
• Half (51 percent) of working Americans say eating lunch out is their biggest spending pitfall while on the job,
compared to other spending on happy hours (5 percent) and shopping during work (8 percent).
• Snacking is the biggest pitfall for 14 percent of working Americans.
 Snack attacks are also more likely to affect older workers than younger – 21 percent of those ages 55-64 say
buying snacks is their biggest spending pitfall at work while just 10 percent of those ages 25-34 admit to this.

5. Slide 5
Many are paying more attention to where their money
is being spent
• Americans are willing to shell out dollars to make sure they get the most from their tax returns.
• More than four in 10 (44 percent) working Americans will go to an accountant to prepare their taxes this
year, primarily because they want the biggest refund possible. Over half (53 percent) said they won’t do
their own taxes this year because they want to make sure they get the biggest refund.
 Men (52 percent) are more likely than women (44 percent) to do their own taxes in 2013, while
women (47 percent) are more likely than men (41 percent) to go to an accountant.
• Tread carefully when asking coworkers to buy stuff on behalf of your kids; not all working
Americans are happy to open their wallets on the job.
• Americans have a love-hate relationship when it comes to supporting your kid’s fundraising pursuits.
While nearly one quarter (24 percent) of working Americans will buy anything your kid is selling such as
cookies, wrapping paper and popcorn, 27 percent hate being asked to buy products from your kids
because they feel pressured to buy it or they don’t need the product. The remaining 49 percent of
Americans will only consider buying a product if they like it.
• Income plays a role in working American’s willingness to buy from colleagues. Those at lower income
levels are less willing to buy a product if asked.
 Only 16 percent of those who make between $30K-$50K say that if they are asked, they will buy it
versus 28 percent of those earning $75K-$100K and 25 percent for those making $100K or more.

6. MAIN FINDINGS
Working Americans are taking steps to deal with a reduced paycheck
Slide 6

7. Slide 7
Payroll Tax Increases are Affecting American’s Social Life
Q10) Given the payroll tax changes that took effect January 1, 2013, after taxes, how much less money are you taking home per month? (N=989)
Q11) Which of the following, if any, have you cut back on MOST since your paycheck was reduced due to payroll tax changes on January 1, 2013? (N=1020)
Which of the following, if any, have you cut back on MOST since your
paycheck was reduced due to payroll tax changes on January 1, 2013?
Nearly one quarter (22 percent) of working
Americans have not cut back on their spending at all
2012
2013
On average, working Americans are taking home
$130 less per month as a result of the
payroll tax changes.
Men (7 percent) are twice
as likely as women
(3 percent) to cut back on
contributing to their
retirement since their
paychecks were reduced
by payroll taxes.
Women (16 percent) are
twice as likely as men
(7 percent) to cut back on
spending money on clothes
as a result of the newly
instituted payroll taxes.

8. Slide 8
Retirement Funds are No Longer Reserved for Retirement
American workers are tapping into
their retirement savings to cover:
Healthcare
Costs
25%
Home/Car
Repairs
27%
Unemployment
Expenses
22%
Q4) Have you ever prematurely taken money out of (i.e. cashed out/borrowed against) your retirement fund (i.e. 401(k) or IRA)? (N=1020)
Q5) Which of the following, if any, are reasons why you prematurely took money out of your retirement fund (i.e. 401(k) or IRA)? (N=1020)
Over a quarter (28 percent)
of the American workforce
has prematurely pulled from
their 401(k).
28%

9. Slide 9
Some Working Americans Treat Themselves at the
Expense of their Retirement Funds
Q5) Which of the following, if any, are reasons why you prematurely took money out of your retirement fund (i.e. 401(k) or IRA)? (N=1020)
Nearly one in six (16
percent) working Americans
said they have used their
401(k) for leisure expenses
such as
remodeling, buying a
second home, buying a
boat or vacationing.
There is a notable subset of Americans who are willing to pull from their retirement
dollars for nonessentials expenses.
Which of the following, if any, are reasons why you prematurely took
money out of your retirement fund (i.e. 401(k) or IRA)?

10. MAIN FINDINGS
Workplace spending is tough for Americans to avoid
Slide 10

11. Slide 11
Food is the Biggest Drain on American’s Wallets
Q3) Which of the following, if any, is your BIGGEST spending pitfall at work? (N=1020)
Which of the following, if any, is your BIGGEST
spending pitfall at work?
The majority of Americans
(65 percent) say going out to lunch or
buying snacks is their biggest
spending pitfall at work.
Snacking is the biggest pitfall for
14 percent of working Americans.
Snack attacks are also more likely to
affect older workers than younger –
21 percent of those ages 55-64 say
buying snacks is their biggest
spending pitfall at work while just 10
percent of those ages 25-34 admit to
this.

12. Slide 12
Working Americans Need to Spend on Food
to Make it Through the Day
The majority (82 percent) of the American workforce buys coffee regularly to the tune of
roughly $20 a week, and 89 percent spend an average of more than $35 a week on lunch.
How much money do you spend per week on…?
Q1) How much money (in dollars) do you spend per week on coffee? (N=1020)
Q2) How much money (in dollars) do you spend per week on lunch? (N=1020)
$$$$$$$$$
Four in 10 (40 percent) working Americans age 25-
34 say they spend $21 or more per week on coffee
compared to just 11 percent of workers age 55-64.
25-34 40%
$$$$$$$$$35-44 24%
$$$$$$$$$45-54 17%
$$$$$$$$$55-64 11%
Younger working Americans are much more likely
than their older counterparts to spend $21 or more
per week on coffee.
Money spent on coffee and lunch by working
Americans has remained consistent year over year.

13. MAIN FINDINGS
Many are paying more attention to where their money is being spent
Slide 13

14. Slide 14
Americans Will Shell Out Dollars to Make Sure
They Get the Most from their Tax Returns
More than four in 10 (44 percent) working Americans will go to an accountant to
prepare their taxes this year, primarily because they want the biggest refund possible.
How do you plan to/did you prepare
your taxes in 2013?
Why didn't/won't you do your own taxes in
2013?
Q6) How do you plan to/did you prepare your taxes in 2013? (N=1020)
Q7) Why didn't/won't you do your own taxes in 2013? (N=519)

15. Slide 15
Think Twice Before Asking Your Coworker to Buy Something
from You
Q8) What do you do when colleagues ask you to buy things their children are of their children (i.e. cookies, wrapping paper, popcorn, etc.)? (N=1020)
Q9) How do you feel about buying products that coworkers are selling on behalf of their children (i.e. cookies, wrapping paper, popcorn, etc.)? (N=1020)
Income plays a role in working Americans’ willingness to buy from colleagues. Those at lower
income levels are less willing to buy a product if asked.
Tread carefully when asking coworkers to buy stuff on behalf of your kids; Americans have a
love-hate relationship when it comes to supporting your kid’s fundraising pursuits.
Nearly one quarter (24 percent)
of working Americans will buy
anything your kid is selling, such
as cookies, wrapping paper and
popcorn.
Nearly half (49 percent) of
working Americans will only
consider buying it if they like the
product.
However, 27 percent hate being
asked to buy products for your
kids because they feel
pressured to buy or they don’t
need the product.

16. March 13, 2013
Accounting Principals
Workonomix Survey 2013