PDA

View Full Version : Middle Class cutting back on spending



monkeybird
10-07-2010, 09:26 AM
http://online.wsj.com/article/SB10001424052748703298504575534341401915382.html?m od=WSJ_hpp_MIDDLETopStories

The middle class in America is tightening it's belt and spending less.

I know my husband and I have. We didn't buy a new car or other nonessential items.

Are you folks cutting back on spending?

610Alpha
10-07-2010, 09:42 AM
I have cut back ever since I got on a budget and started following Dave Ramsey's Baby Steps to get my family out of debt. I am using my blow money to purchase water containers and other prepping supplies.

I actually felt like I got a raise once I got on a budget, sounds weird but managed money goes farther.

Patriotic Sheepdog
10-07-2010, 10:18 PM
Scroll down in that article and pull up the image titled "making do with less" and follow along with me.

Yes people in general are spending less, but wait, look at the lowest income. These are the poorest of those living here in America. They are paying 22.8% more for food, 14% more for clothing, 8% more in housing and 9% more in health insurance. Also if you notice they are paying more for food away from home, although only about 1% more. They also have 5.5% more in average spending and 5.5% less income. So the lowest quintile is making less and spending more. They are getting deeper in the hole. This action will decimate the lowest 20%.

The reason I am pointing this out is the .gov is creating desperate people. They said heath care costs were not going to increase, well it looks like they were not telling us the whole truth. Eventually the desperate will see that the .gov has been lying to them and are not enacting laws/bills that are really helping the poor. Desperate people do desperate things. Keep your eyes open.