Recession Giving Birth to More Frugalsby Mary Ann Romans | More from this Blogger 30 Jul 2008 05:04 AM
The research company Nielsen Co, tracks consumer habits. It says that about 63 percent of consumers are cutting their spending. In the AP article, former spendthrifts are taking drastic measures to curb shopping, such as applying shoe glue to a peeling sneaker sole, buying generic soups, combining shopping trips, eating out less often and shopping with coupons. There have been sharp declines to shopping at clothing stores, office supply stores and hardware stores, as people concentrate their money on the things that they need to keep going. There is a depression mentality according to one public relations agency that has people really hunkering down and saving what they can. Everyone is trying to control the spending that they can, such as buying generic food because they can't control bigger expenses such as heating oil or gas. But I still don't see the majority of people saving buttons and living on beans just yet. At the moment, frugality is almost chic. at the very least, it is more acceptable. Will this new frugality last? I think it all depends on how long a recession lasts, whether it ever gets to be a depression or not, and the future outlook. Some folks may rejoice at not having to make meals from scratch and buy used clothing, while others may fully embrace the frugal lifestyle and find that it suites them perfectly. Some stores that have been hit by the lack of shopping will continue to try and entice us with good deals and incentives, while discounters will continue to make a profit as they appeal to new customers. Walmart says it is now starting to appeal to more affluent shoppers and plans to keep them. In the past these same affluent customers might not have been seen dead shopping there. There is so much to share and learn about frugal living, and it can help you live a wonderful life. If you are new to the idea of living frugally, welcome. You'll find a great supportive community here. And if you have been practicing frugal living for a while, then I am so glad you are here. You can add your support and expertise, as we all adapt to a changing situation and discover new ways to be frugal. Mary Ann Romans writes about everything related to saving money in the Frugal Blog, technology in the Computing Blog, and creating a home in the Home Blog. Starting June 1st, don't miss her articles in the Baby Blog. You can read more of her articles by clicking here. More Great Articles: Are Recession Bargain Hunters Making It Harder to Be Frugal? What Will You Do with Your Tax Rebate? Will Your Home Sell in a Recession? Trends Can Influence a Sale Learn more about Mary Ann Romans  Mary Ann Romans is a freelance writer, wife and mother of three children. She lives in Pennsylvania with her husband, the kids and a 16-pound cat. Relevantfrugal tags User Comments Samual (11722) 30 Jul 2008 05:46 AMBut the more tight people become, the worse the problem becomes. The only reason recession is slower in the UK is because people aren't filling their pockets.  Mary Ann Romans (26876) 30 Jul 2008 12:06 PMDo you think that hoarding bargains makes the recession worse? Samual (11722) 30 Jul 2008 02:10 PMIt's proven it does and highly publicised, the less money we put into the economy the worse the situation becomes, the moment people stop spending, they lose their money. Mary Ann Romans (26876) 31 Jul 2008 04:45 AMAh, so the less spending is what you are speaking of rather than the practice of bargain hunting. I see. I think it is matter of choosing the spending. We find ourselves with less disposable income, since we are paying more on food and gas. We are still spending the same amount of money but buying less, if that makes sense. Instead of picking up a DVD, for example, that money goes for the increase in the price of milk and eggs. Community Tags budget, frugal, recession, save money, thrifty Discuss this article
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