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Will consumers remain tight-fisted when the recession is over - Bills.com News
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Will consumers remain tight-fisted when the recession is over
Tuesday, Aug 18, 2009
Eventually, the recession will come to an end, but continuing those money-saving practices may lead some consumers to flourish even more when the economy makes a turn around. According to the Baltimore Sun , there are a number of habits consumers can adopt and keep through the end of theeconomic downturn.
In giving advice, the paper showed some real-life examples of people who have cut back on spending. There's Deborah Pont, a 41-year-old resident of Connecticut, said in the report that she and acquaintances have been cutting back on shopping and eating out.
"Everybody else said, 'Let's
not go out, let's not spend too much money,' so somebody would make dinner and we'd go to their house," Pont said.
A number of other examples include saving more and looking for a bank that treats consumers in a more positive way. Furthermore, consumers should take part in government programs, including those
A number of other examples include saving more and looking for a bank that treats consumers in a more positive way. Furthermore, consumers should take part in government programs, including those
that help people facing foreclosure .
As indicated in the report, more people seem to be cutting back on expenses. According to the Federal Reserve , the amount of revolving debt -- which is mostly made up of credit card debt -- has seen a recent drop, which may mean fewer people are relying on credit card debt to make purchases.
Also, make sure to get a free financial health check-up with Bills IQ!
As indicated in the report, more people seem to be cutting back on expenses. According to the Federal Reserve , the amount of revolving debt -- which is mostly made up of credit card debt -- has seen a recent drop, which may mean fewer people are relying on credit card debt to make purchases.
Also, make sure to get a free financial health check-up with Bills IQ!
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