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Location: Sitting on a bar stool. Guinness in hand.
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Households face the unthinkable: budgeting - Yahoo! News (broken link)
Quote:
"For many years people on Wall Street have refused to believe that American consumers could ever change their spending habits," said David Rosenberg, North American economist at Merrill Lynch. "But it's happening."
"Frugality is in, extravagance is out,"
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So will American truly decide to change there ways? Or is this just a short term dip in consumer spending that will soon turn around?
Oh man, my wife & I are really cutting things and positioning ourselves for the next few years. In every area of our lives we're making what changes we can.
Budgeting, I think, will really become a catch phrase. And, not rtying to get all political, if the Bush tax cuts are not renewed and my low to middle paycheck gets smaller, we're probably going to sell the house and rent.
No, we live in a microwave society where everyone wants it done now. So instead of the long hard work and saving up for what you want, you get it on credit. Then you get so deep into debt that a little extra doesn’t hurt, you’re already in the hole without a ladder so why not go a little deeper. If you already don’t budget, then you more than likely wont really get into it. Just my opinion.
I think folks will attempt to budget, but like dieting find it is easier to initiate the process than to stick with it over an extended period of time.
It has to be a habit, we have been "generally" budgeting for over 30 years, and it allowed my wife to stay home (which SHE wanted to do) and raise the kids.
I think folks will attempt to budget, but like dieting find it is easier to initiate the process than to stick with it over an extended period of time.
Exactly, just like the gyms are always crowed right after the new years but around this time the “resolution” crowds are gone. The budget crowds are the same. Many don’t seem to stick with it long term because there is always something they want/need and slowly relax their budget guidelines.
It's a twister!!! It's a Twister!!! Everyone down in the storm cellar!!!
Not really meaning to make light of what isn't currently a very good situation, but what does "budgeting" really mean, and how will this apparently new process make one better able to cope with the up's, or more particularly, the down's, of the economy? Are we talking about writing out a monthly plan to limit spending in certain categories to predetermined amounts? Are we just going to stop buying things in general? What do we expect will be gained from all this? How will we be made better off?
Just curious...
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