Inflation is having widespread impact on Americans’ financial planning, according to a new survey by BMO Harris Bank. Over a third (36%) have reduced their savings and 21% have reduced their retirement savings. A quarter of Americans will need to delay their retirement.

But the impact on younger Americans has been even more sever. Over 60% of those aged 18-34 said they had to reduce contributions to their savings.

In addition, inflation has begun to alter spending as Americans’ struggle to keep their finances stable amidst higher prices.

• 42% are changing how they shop for groceries. This includes opting for cheaper items, avoiding brand names and buying only the essentials.

• 46% are either dining out less or consciously spending less when dining out.

• 31% are driving less to offset the soaring cost of gas.

• 23% are spending less on vacations or canceling them altogether.

• 22% are taking measures such as canceling subscriptions to the gym, cable, etc.

• Women are more likely to make lifestyle changes than men. Nearly half of women plan to adjust the way they shop for groceries (47% vs. 36% men), dine out less (49% vs. 43% for men), and 25% of women plan to cancel subscriptions vs. 20% of men.