Tuesday, November 24, 2009, AM | Leave Comment
This year, many folks have been laid off as we all know. The personal finance experts say “Less work, but more time with family! Less credit, but smarter spending!” Whether you are one of the many who don’t have a job this shopping season – that includes yours truly – or are gainfully employed, be frugal this season. Even if you can afford to buy and give gifts and even lots of them, identify yourself with folks who are at the bottom of the finance ladder by not shopping exuberantly. So, Whacha gonna do when the malls call on you?
A survey was conducted by two Baltimore companies, Context-Based Research Group and Carton Donofrio Partners. Participants were selected to reflect the U.S. population in terms of gender, income, race, age and region. The survey said that 43% believe the recession has had a positive impact on their lives.
The survey says the recession has led Americans to reassess their values, and many folks may find new joy in the holidays without the wildly exciting bouts of shopping. It’s a good sign for individuals and families but the economists tell us that it is not good for the national economy. Some of them say that America was built on spending.
Moral of the story
As long as you watch your spending of the past and be a little frugal in spending, I think most folks would do just fine and in turn the national economy as well. Don’t follow the Jones’. Maybe they can afford it. If you cannot, then restrain yourself from overspending. Enjoy your health, free time, the bonds of family and friends. Basically enjoy life instead of spending.
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