We have become more conscious of our spending habits the past couple of years and are saving where we can. We should have always been thinking in this manner, i.e., having good spending habits. Admittedly, DH has been more diligent about this than I have in the past. However, like so many others, I am re-learning and being more cognizant of where the $$ goes. We spend less (not that we were ever extravagant), make a budget and stay within it, forego the impulse buying, etc.
Neither of us has been a “Keep Up with the Jones” type (guess that coveting is one of the sins we’ve not acquired but probably make up for it in other areas!), however there have been times when because we want something, we purchase it.
I have not yet given up my book purchases! Think I will give up food before I do that . . . (oh oh – will I have to eat my words?).
It’s amazing what a slumping economy can do for the nation. When everybody is pushed to their financial limit, they reduce their spending and start to act more prudently in regards to their income. They spend less, and try to pay the debts that matter to them first. Of course, this happens only after seriously trying to keep as much of their expensive possessions and maintain a luxury lifestyle, but it all comes with the attitude that they need to get serious about what they’re doing for themselves in order to survive and prosper.
This is great for instilling a sense of hard work and reward, and for giving people perspective on the issue of handling money. However, for as many painful lessons that are taught during hardship, just as many are forgotten when things pick up again. People start spending more, enjoying better things, going out to eat more often, driving frequently, and before you know it, with several years of this sort of activity, the economy reaches a peak and tapers off until it starts to grind to a crawl again.
Posted on June 5, 2009, in National News and tagged budget, clipping coupons, debts, economy, life lessons, lifestyle, money management, recession, responsibility, saving, spending, spending habits. Bookmark the permalink. Leave a comment.