By now, you’ve probably heard classic advice on how to survive a recession: buy generic, pare extra costs, focus on necessities ... But are we actually taking the advice pouring at us from so many news outlets?
According to a recent article in USA Today, we are.
It seems we are spending money, albeit not on new gadgets and glamorous accessories.
Here are some sales figures from various U.S. vendors:
- Sales at Goodwill Industries are on the rise, with a reported 7 percent increase in March from a year ago.
- Shoppers used 10 percent more coupons in the fourth quarter of last year than in the third, indicating that pinching pennies is growing more popular.
- Rather than splurging on nights out, Americans are funneling their funds to existing debt, as evidenced by a 2 percent decrease in consumer borrowing in the first quarter of this year and a 6.5 percent decrease in revolving credit.
- Figures from the National Association of Home Builders show that Americans are spending more on repairing and remodeling their houses. Though numbers are still below what’s considered ideal, they’ve jumped significantly since last year. (Read about foreclosure and the recession)
Traveling in a Recession
A recent Associated Press article reports on the rising popularity of home-swap vacations for travelers looking to cut costs but still get away from home for a while.
Most experts recommend joining an online home-swap Web site to eliminate some of the risks associated with trading houses with strangers.
People who want to get off the beaten tourist track on their voyages may enjoy the home-swap experience – but even if you don’t have a house to offer in exchange, you may be able to travel for a fraction of traditional costs.
Another recession-friendly trend is the couch-surfing experience. (Check it out!) Again, you begin your trip online and find hosts in the area you’d like to travel with a lifestyle that matches up with yours.
For more tips on how to make the most of your limited travel dollars, check out this article about how to travel on a budget.
--Has the recession hit you really hard? Are you finding it difficult to make ends meet, much less pay bills? Learn about filing bankruptcy.
Tags: recession
This entry was posted on Friday, May 29th, 2009 at 11:17 am and is filed under Bankruptcy and the Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
The American culture facing the recession is definitely learning to live a simpler live. Things such people shopping with coupons which we rarely saw before, shopping at more financial convenient stores, and cutting back on luxuries. Focusing on the necessities is what our culture need to do in order to survive this recession. Love the article!
The American culture facing the recession is definitely learning to live a simpler life. Things such people shopping with coupons which we rarely saw before, shopping at more financial convenient stores, and cutting back on luxuries. Focusing on the necessities is what our culture need to do in order to survive this recession. Love the article