Consumers look for small ways to save money
Unfortunately, it takes hard ecnomic times before people being to “be more careful” with their money. That’s a big part of the problem. Around here, we prefer to think of it (being careful with money) as another aspect of stewardship, and take the same conservative approach whether the times are good or bad. We are thankful for the blessings we have been given, and try hard to not squander them.
Via: Reuters
Cincinnati receptionist Roz Steadman had never been much of a coupon clipper, but the urge to be more careful with her money amid a faltering economy changed that about a month ago.“I go through the newspapers and cut coupons for all of the detergents, the P&G (household goods) products,” said Steadman, 22, as she shopped at discount retailer Target. “And I look for sales.”
Though her own job seems safe, a flood of bad news on the U.S. economic front has sown a palpable fear among consumers and many, it seems, are cutting back to save a little money.
Big money purchases were hit months ago, when nervous and pinched buyers stopped looking at homes and cars, feeding a housing crisis and sending new car sales to a 15-year low.
Now, with images of long lineups of depositors at failed bank IndyMac, talk of government bailouts of mortgage financiers Fannie Mae and Freddie Mac, and news of rippling layoffs, U.S. consumers are sweating the small stuff.
Like many, New Jersey resident Lillian Kodua, 36, is cutting back on commuting costs, sharing a ride to work with her husband. But her penny-pinching has gone beyond gasoline.
“We also bring our own lunches to cut down on costs,” said Kodua, a computer valuations specialist.
“When shopping, I look for the best deal. You can go to a Macy’s or Lord & Taylor to get a shirt but can get it here for $20 cheaper,” said Kodua as she shopped at a Wal-Mart in Watchung, New Jersey. “It’s all about the savings.”
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