What drastic changes are people making in their daily lives to cope with the effects of the recession?
Rent Back
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{ 12 comments… read them below or add one }
the only change i have made at the moment is with food, what I buy and cook,and try to have less waste
Nothing. I have a steady job, own my home, and have little debt.
I also believe that the news media is blowing things out of proportion. Yes, there are some economic woes worldwide and nationally. Yes, unemployment has risen. But it is not AS BAD AS THEY SAY IT IS. We seem to be a nation built and raised on fear and panic. We accept that things are horrible, get scared and anxious, and withdraw, which by the way does create and compound the economic problem. Jobs laying off people? They’re panicking, those companies, believing all the horrific news, and thus they lay off workers and compound the problem. It all comes full circle.
There are some bad situations, worse in some places than others, and there is a lot of work and clean-up ahead. We are Americans. We will persevere and survive. But it is not so terrible that we are in dire straits, every single person.
Bottom line, I’m not going overboard on spending, but I am absolutely shopping for gifts, necessities, and luxuries, thus doing my small bit for our local economy, as well as online shopping, too. I’m not leaping into situations without looking, or letting myself become paranoid and afraid. I’m keeping a smile on my face and support/encouragement for friends and family who may be feeling scared. That’s what I can do.
I am trying to cut down on food bills and gas bills.
Well, I know that I am not going out to eat as much. I am letting my hair grow instead of going to the salon to be cut and styled. I am not buying gourmet coffee. I am not planning any family vacations. I am not investing any more money in my retirment accounts.
I have noticed, too, that more people are talking about their finances and what they have lost. Up to now, what assets and retirement savings people had seemed to be a matter of top secrecy. I guess we are all looking for some kind of reassurance and group support.
In our business, people are asking for the cheaper repairs rather than the more expensive replacements. People are not calling or expressing interest in items that enhance life; rather just maintenance calls, and there are more bad checks being written and more non-paid invoices.
well tbh i was in a panic at first, i never had lots but i have stopped overspending, ive lost a bit on shares but they will pull back over the next three years , so im told, all in all im still doing as i normally done
I was a semi poor guy before but now i am completely poor and thats one of the reasons why i am in the internet cafe instead of home internet. Searching for a job desperately..
Well,I’m down from 2 cars to 1.I let the lease run out on the nicer one and walked away owing nothing.(lease paid in full) I have our other car a great older car I owe nothing on.I saving my Penny’s more now and buying things I need not want……….
I haven’t really made any changes to my life. I still pay off my credit cards, eat out occasionally, watch movies at the cinema, shop. In fact, I’m actually traveling more.
Since we live in a global economy, I’m trying to get a global outlook. I think it changes your life when you see how other people live in other countries. There is no place like home (America).
My husband and I started thinking about moving to another state. Right now we live in the bay area and the cost of living is expensive.
Also, I cut the restaurants and start cooking at home.
Well, I ‘m doing good for now. I’m still receiving my Army pension, working 40 hrs. each week. Had 2 trucks and 2 cars and getting ready to buy another one. I saved at least a couple hundred each month and saving it for rainy days including what I get from my tax return. My employer still strong, and considered the biggest food processing in United States. So far so good, and I hope it will stay that way…
Edit: Everything that I read so far (news) are repetitious. If they are so worried about it then do something constructive, and be serious about it. Some of this problems are common sense. We cannot out spent more than what we make… Learn how to tighten our belts now, and save.,, Last but not least, never give up…
It’s hard to think there is a recession when you go to the mall and can’t find a parking place or your stuck in traffic! What I think is happening is there is a generational shift in spending. The baby boomers “the consumers” are retiring and not spending as much and their kids “generation X & Y” are settling down and having families. Gen X & Y don’t have as much spending power as the Baby Boomers did in their 30’s and they are spending towards more necessities. Plus, in Business there comes a time the law of diminishing returns takes affect. There is just too much crap out there that people are not buying!
finding a job is getting harder for me