NEW YORK -- The effects of the U.S. economic slowdown have trickled up to the wealthy, who say they will change spending and savings habits due to recessionary conditions, according to a survey.

The results were published in the April edition of Spectrem Group's High Net Worth Advisor Insights newsletter, which said that wealthy investors had previously seemed more likely to be insulated from the current slowdown.

Confidence generally has been on a sharp downward slide in recent months as the effects of the worst housing slump since the Depression and high energy prices have taken a bite out of consumer sentiment.

The deterioration has been acute among households on the lower rungs of the income ladder, though according to the newsletter it is also giving the wealthy pause for thought.

It said "a shocking 42 percent" of those surveyed reported they were likely or very likely to change how they budget and spend money, while 31 percent said the company they work for, or the business they own, will be negatively affected by the worsening economic conditions.

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"The fact that over 40 percent are going to be looking at and reassessing their budget shows that this economic downturn and accompanying uncertainty is affecting even the wealthiest investors," the newsletter said.

This may also have implications for financial markets and wealth managers. In the survey, 24 percent said they would save less, and the same percentage of respondents reported that they would change their asset allocations.

Some 23 percent said they would invest more in fixed income, while the wealthy also appeared worried about jobs.

"Perhaps most shocking is the fact that 6 percent of wealthy investors believe they will lose their jobs as a direct results of the economic troubles the country is experiencing," the survey said. "Another 3 percent believe their spouse will lose their job."

Spectrem surveyed 250 affluent U.S. households, defined as having $500,000 or more in investable assets, in late-March.

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