Comments on: How Has the Recession Changed Your Saving Habits? http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/ Fri, 19 Mar 2010 13:56:41 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Diane http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-41340 Diane Thu, 19 Mar 2009 21:43:10 +0000 http://financefreelancelife.com/?p=1338#comment-41340 @Maureen - It is a shame it's taken a recession to convince Americans to save, but that's the way it seems to be. My boyfriend & I have observed that it might be a much-needed correction in the American way of life... Nothing wrong with spending money if you have it - meaning if your debt is paid, your bills are paid and your savings are funded. The whole notion of using a credit card for trips, games, dining out, extra clothes & accessories - and NOT paying it off is horrifying to me. I've vowed to never use a credit card again for something I can't pay off - unless it is a dire necessity. I sure hope my emergency fund would cover that and it will never happen. I was already in that mode, but this recession has solidified it for me. @Maureen – It is a shame it’s taken a recession to convince Americans to save, but that’s the way it seems to be.

My boyfriend & I have observed that it might be a much-needed correction in the American way of life…

Nothing wrong with spending money if you have it – meaning if your debt is paid, your bills are paid and your savings are funded.

The whole notion of using a credit card for trips, games, dining out, extra clothes & accessories – and NOT paying it off is horrifying to me.

I’ve vowed to never use a credit card again for something I can’t pay off – unless it is a dire necessity. I sure hope my emergency fund would cover that and it will never happen. I was already in that mode, but this recession has solidified it for me.

]]> By: Maureen http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-41334 Maureen Thu, 19 Mar 2009 19:58:36 +0000 http://financefreelancelife.com/?p=1338#comment-41334 As strange as it might sound I'm glad more people are being considerate about my choices not to eat out at that fancy new restaurant and not to blow my entire wages on a night out. It's a shame that it's a recession that has made them more aware. As strange as it might sound I’m glad more people are being considerate about my choices not to eat out at that fancy new restaurant and not to blow my entire wages on a night out. It’s a shame that it’s a recession that has made them more aware.

]]> By: Squawkfox http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40700 Squawkfox Tue, 10 Mar 2009 15:44:34 +0000 http://financefreelancelife.com/?p=1338#comment-40700 I operate my finances in the same manner despite the economic climate. I save lots and I spend little - only buying what I need. The difference is now people don't give me a hard time if I don't go out for lunch or spend on whatever. These days I think people have a better understanding of why savings are needed. I operate my finances in the same manner despite the economic climate. I save lots and I spend little – only buying what I need. The difference is now people don’t give me a hard time if I don’t go out for lunch or spend on whatever. These days I think people have a better understanding of why savings are needed.

]]> By: Pecuniarities http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40696 Pecuniarities Tue, 10 Mar 2009 14:01:57 +0000 http://financefreelancelife.com/?p=1338#comment-40696 <strong>Interesting Reads From Fellow Personal Finance Bloggers #16...</strong> Posts from personal finance and frugality blogs that caught my eye this week, plus recent finance blog carnivals that included posts from Pecuniarities. ...... Interesting Reads From Fellow Personal Finance Bloggers #16…

Posts from personal finance and frugality blogs that caught my eye this week, plus recent finance blog carnivals that included posts from Pecuniarities.
……

]]> By: Richer by the Day » Irrational Pessimism Towards The Stock Market http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40629 Richer by the Day » Irrational Pessimism Towards The Stock Market Mon, 09 Mar 2009 15:41:10 +0000 http://financefreelancelife.com/?p=1338#comment-40629 [...] To me, that’s an excellent way to describe the current situation. Why is it that so many of us continue to repeat the mistakes of the past? The market is in dismal shape, but isn’t that exactly what we should be hoping for as investors?  Lower prices now means that our gains will be even greater when the recovery eventually comes.  I’m not asserting that we’ve reached a market bottom or that things won’t get a lot worse before they get better.  But I do feel strongly that we’ll look back on current prices and kick ourselves for not buying even more.  That’s why I’m continuing to invest as much as possible.  I said as much when Mrs Micah asked her readers How the Recession Had Changed Their Spending Habits. [...] [...] To me, that’s an excellent way to describe the current situation. Why is it that so many of us continue to repeat the mistakes of the past? The market is in dismal shape, but isn’t that exactly what we should be hoping for as investors?  Lower prices now means that our gains will be even greater when the recovery eventually comes.  I’m not asserting that we’ve reached a market bottom or that things won’t get a lot worse before they get better.  But I do feel strongly that we’ll look back on current prices and kick ourselves for not buying even more.  That’s why I’m continuing to invest as much as possible.  I said as much when Mrs Micah asked her readers How the Recession Had Changed Their Spending Habits. [...]

]]> By: Maureen http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40477 Maureen Sat, 07 Mar 2009 21:32:20 +0000 http://financefreelancelife.com/?p=1338#comment-40477 "We don’t HAVE to yet, but the point of good preparedness is to start doing it before you are forced to." @ miranda: Noted in my finance book along other clever quotations! So apt. It definitely softens the blow “We don’t HAVE to yet, but the point of good preparedness is to start doing it before you are forced to.”

@ miranda: Noted in my finance book along other clever quotations! So apt. It definitely softens the blow

]]> By: Maureen http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40476 Maureen Sat, 07 Mar 2009 21:29:48 +0000 http://financefreelancelife.com/?p=1338#comment-40476 I think most things have stayed the same considering saving. I am trying not to spend my income except for necessities. I was looking at my spending diary and it seems all I've been buying is food and conditioner. It really annoys me when something breaks. My 'beloved' rucksack (which when I bought I spent a week and lots of considering as £35 was a lot for a 15 year old) one the straps snapped on my way to work! I was gutted but knew I could no longer sew it and it would be fixed. It was time to buy a new one. Five years on the cost of rucksacks has increased! Got my new one for €49.95. I'm happy though as it's a hiking bag and extra strong for all those heavy uni books. I've been spending a lot of time in too. It's not been that depressing though and has given me plenty of time to work on my dissertation and my financial game plan for my final year of univerisity. I agree with the comments about keeping on your toes at work. I've started listing my achievements on a weekly basis so that when I apply for jobs this summer I have some more beef for my c.v. @mrs micah: I like the idea of asking this question. It'd be nice to see how it changes over the course of the next two years. I think most things have stayed the same considering saving. I am trying not to spend my income except for necessities. I was looking at my spending diary and it seems all I’ve been buying is food and conditioner. It really annoys me when something breaks. My ‘beloved’ rucksack (which when I bought I spent a week and lots of considering as £35 was a lot for a 15 year old) one the straps snapped on my way to work! I was gutted but knew I could no longer sew it and it would be fixed. It was time to buy a new one. Five years on the cost of rucksacks has increased! Got my new one for €49.95. I’m happy though as it’s a hiking bag and extra strong for all those heavy uni books.

I’ve been spending a lot of time in too. It’s not been that depressing though and has given me plenty of time to work on my dissertation and my financial game plan for my final year of univerisity.

I agree with the comments about keeping on your toes at work. I’ve started listing my achievements on a weekly basis so that when I apply for jobs this summer I have some more beef for my c.v.

@mrs micah: I like the idea of asking this question. It’d be nice to see how it changes over the course of the next two years.

]]> By: TStrump http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40426 TStrump Sat, 07 Mar 2009 07:22:44 +0000 http://financefreelancelife.com/?p=1338#comment-40426 Still saving the same amount. Also watching my spending more. Still saving the same amount.
Also watching my spending more.

]]> By: Stephanie http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40341 Stephanie Fri, 06 Mar 2009 03:10:27 +0000 http://financefreelancelife.com/?p=1338#comment-40341 Can I just say that, in these past few days of Twitter, I've already gotten pretty addicted! Can I just say that, in these past few days of Twitter, I’ve already gotten pretty addicted!

]]> By: Funny about Money http://financefreelancelife.com/2009/03/05/how-has-the-recession-changed-your-saving-habits/#comment-40340 Funny about Money Fri, 06 Mar 2009 02:20:58 +0000 http://financefreelancelife.com/?p=1338#comment-40340 Saving more, planning expenditures carefully, avoiding all unnecessary expenses, looking for less expensive everything (from groceries to hair stylists), working extra jobs, pinching every penny, and hoarding food and household necessities. Saving more, planning expenditures carefully, avoiding all unnecessary expenses, looking for less expensive everything (from groceries to hair stylists), working extra jobs, pinching every penny, and hoarding food and household necessities.

]]>