Has the recession forced you to make changes?
Staff writer Joe Holleman wrote an interesting story about a Winfield family of 14 who say they haven’t made any changes during the recession because they’ve always had to be careful how they spend money.
But for most people, the recession has probably led to some lifestyle changes.
One of the most significant changes for me is that I’ve stopped using my credit card. Period. I saved for the past 18 months and finally paid off my balance a month or so ago. It was really difficult to pay down that debt. But I never want to be in that kind of jam again.
I also shop at a discount grocery store now, which saves money. But I used to put groceries on my credit card. Not anymore. If I don’t have enough for groceries, I cut back my food consumption and wait until my next paycheck to buy more.
I know I’m fortunate to still have a job that allows me to pay the bills. But with unemployment climbing, a lot of people are struggling and have been forced to make hard choices.
What changes or choices have you been forced to make? Do you think this recession will turn into a depression? How will the economic crisis affect consumer behavior in the future?
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With due respect to Mr. Holleman and the Winfield family, a family of 14 is a gross anomaly; but maybe not so much for us to learn a lesson.
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I think this has been a “depression” for months (I am still waiting to see an “official” description of what that is and when we hit the trip points… until then, this is just a matter of euphemistic semantics) and that we are both in denial and, for those who know better, are trying not to drive consumer confidence lower and create a more precipitous downward spiral.
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I am alarmed at how the pundits are now “redefining success.” “Life will be more fulfilling.” “Smaller cars for bigger lives.” I’m not exactly sure what all that means (nor am I convinced that they know, either), but right now I think that translates into me making a choice between fixing the roof or being able to buy steak for my family every once in a while. It’s not like we’ve ever been comfortable and now we will be less comfortable. Thanks for doing your part for globalism, Wall Street, Congress, and the S.E.C. You’ve failed me in my personal quest for prosperity, instead.
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I think the measures that the parents in the family of 14 have taken all along to make a human salary do superhuman things will become the measures each of us will have to take to make our “it is what it is” salary achieve new priorities within our mormal-sized family units. The decline of prosperity, certainly, and perhaps the decline of comfort. Perhaps the article was more relevant than not.
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Now to make the best of it so I can put some steak up on the roof.