Thursday, October 23, 2008

Recession Confessions

This month, NPR is airing a series of Kitchen Table Conversations, sharing the stories of everyday Americans and how they are coping with the current economic crisis.

We want to know how you are handling it. Are you spending less? What are you cutting down on? What is the one thing you will not sacrifice or skimp on despite these tough times?

Here's what a few folks had to say...

I try to buy things I'll like and keep for a while (high quality and interesting). I'd rather buy a lot less and do that, than buy things I don't like. Drew, Lexington, MA

I am spending less. I’ve stopped going to restaurants and movie theaters. I have also been cutting down on clothing purchases. I haven’t been to the mall in weeks …quite shocking frankly! I am also really nervous about the holiday season and being able to afford quality presents for friends and family. I will never give up ordering pizza. Sarah, Hartford, CT

I’m a little embarrassed to admit this but I haven’t actually changed my lifestyle at all. I know people are hurting right now and that our economy is probably only going to get worse, but the reality for me is that I still consume the same amount of “stuff.” I still fill my cart at the grocery store and go out to eat a few times a week. I still buy clothes and other consumer goods. I haven’t been compelled to trade in my SUV for a Prius or turn my thermostat down to 58 degrees. Sure I’m frustrated with the increased costs of daily living, but not enough to change the way I live my life. Susan, Avon, CT

Yes, I am spending less, but not so much because of the economy. I’m cutting down on going out to bars and eating out at restaurants, but I will never give up my my DVR/HD on my TV. Chris, Burlington MA

I am spending less but this is really a function of paying for two kids in college more than the economy....even though assets we were counting on to pay for tuition have lost alot of value so we are using our savings and cutting back on vacations, going out to eat, home improvements, new cars etc......I will not cut out my wine with dinner. Vince, Hartford, CT

I almost never drive my car anymore, but this is easier for me since I live in a city. I give more money to homeless people. I see so many on the streets, and it's heartbreaking. Jerome, New Haven, CT

What about you?


Anonymous said...

I haven't really changed my ways to be honest. I still do all the same things. For me, I wasn't overspending before, so I'm still doing the same activities and staying within my means.

Anonymous said...

There's nothing yet where I have had to think, 'do you really need to spend this money'. Although, I am getting prepared for a new way of thinking about saving and have suggested already to family that we draw names at Xmas instead of a gift for everyone.