This recent Deloitte survey really stood out to me. Because gas and food are costing more, 71 percent of American consumers are planning on spending less on back-to-school shopping this year. Now that’s not all that surprising. After all, the news has been chock-full of reports on how bad our economy is, and the economy has become the hot-button issue of the presidential campaign. Saving money just makes sense.
But in that survey, 90 percent of respondents said that they will change the way they shop for back-to-school items this year. And here’s the kicker: the number one change--79 percent of shoppers will buy more items on sale. That’s a change? Seriously? Saving money by buying things on sale is just common sense.
That little gem was followed up by this: 68 percent will buy more lower-priced items. Why wouldn’t you already be buying lower-priced items?
It’s pretty sad when the biggest changes in spending have to do with common sense habits that Americans should already be practicing. No wonder America has a debt problem--It takes a bad economy, higher food prices, and gas prices that have increased exponentially just to get us Americans to buy items that are on sale or cost less.
--Jens
I think one factor why so many people are having a hard time using their common sense with today’s economy is because the two dominating generations of today’s Americans have never dealt with the idea of a “recession.” This unfortunately leaves many people clueless on how to better manage their income in order to live more frugally. Most people don’t realize the control they have over their monthly spending because they don’t have a plan. Many people have these slight panic attacks and think they have to start cutting out portions of their disposable spending. According to Bankrate.com’s senior financial analyst Greg McBride, “when it comes to expenses, try to cut back rather than cut out. It may be an easier way to go.” He also gives good insight on ideas of planning ahead while cutting back.
-Joey
http://www.komonews.com/news/consumer/16414256.html
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