Spending like the old days

A number of signs in the economy indicate that consumers are developing habits like the old days. Now, when I say the old days, I'm not talking the 1990's, but rather the 1950's! As a financial coach, I find this very encouraging. Tightened up credit markets, job losses, and even a sense of reality have caused consumers to slow down their free-spending ways and be much wiser as to how they spend their money.

We are also looking for bargains like never before. Good friends of ours who came over for New Year's Eve celebration excitedly told us how they saved over $150 on a flat screen TV by picking an open box item, knowing what they were willing to pay, and using cash.

The current state of the economy is providing a great opportunity for consumers to develop thrifty habits that served our grandparents well. It also is a good time for us to be sharing this information with our children.