Economy's Effect on Frugality

**dave** · 03-25-2009, 07:59 PM

How has the economy effected you and your shopping behavior? I know with me I've been purchasing items on sale more than ever and luxury items are few and further between. The funny thing is that my salary is $15K higher than it was last year and I am currently under no threat of losing my job or anything, but I am in such fear about the current economic crisis that I've changed my purchasing behavior drastically.

I've also tried a lot more store brands lately. Surprisingly when they say "compare to (insert popular name brand here)" they usually are almost exactly the same, but usually half the price.

I still do enjoy my food splurges though...to me nothing is better than a fat juicy steak at a nice steakhouse. mmmmmmmmm

**hotprincesscm** · 03-25-2009, 08:01 PM

I'm more aware of all purchases I make, I am stockpiling some things, I am saving as much money as possible and trying to keep all debts, and bills as low as possible

**sabrelvssammy** · 03-25-2009, 08:10 PM

i have gone to an 'all cash' system so i can stop using my cc's...

now that i have 'cash' i can't seem to spend it....

**Spirit Deer** · 03-25-2009, 08:32 PM

We haven't really made any changes to speak of.

I'm doing more scratch cooking but it's less about saving money (although that's part of it) than it is about eating better, more healthy food.

**hotprincesscm** · 03-25-2009, 09:06 PM

Good idea..once I do pay off my cc...I think I'm going to get into an all cash system..it's easier and less stressful!!

**cojo** · 03-25-2009, 09:38 PM

Well I wish I could say I scrimped and saved up an emergency fund...but I bought a house! LOL. The legal fees and taxes ate up my emergency fund. Now I'm trying hard to build up a new one.

I think it is true what Warren Buffet says: "Be greedy when others are fearful, and fearful when others are greedy." The good thing about being frugal is that it frees up cash when others are in debt.

Fortunately the company I work for (a food company) is doing pretty well in this economy so I'm not too concerned about losing my job.

**mauimagic** · 03-25-2009, 11:08 PM

Good question..... I am more aware of my spending. Last year I incurred a lot of cc debt flying back and forth to the mainland three times, rental cars, hotels - to take care of DD during her surgeries and recoveries.

Am not overwhelmed by amounts of debt - just working our way through it and planning for the future so as not to get in that situation again.

I am a teacher so my job is as secure as I can imagine - thankfully. Also have picked up sewing jobs - alterations and new work. Keeps me busy and happy!!

**NewLeaf** · 03-26-2009, 06:48 AM

I have taken a serious look at my budget. I have cut down on buying items that I can make myself (laundry det. and homemade mixes). I started carrying cash in an envelope for my household spending - when it is gone I am done for that pay period. I started paying attention to store sales ads, coupons and loss leaders. I am stocking up on items that are on sale for the lowest price so I don't have to buy them at all until they are on sale again.
We cut out any extra monthly bills we could or at least cut them down(ie: cell phone plan).
We started snowballing our debt and have paid off 2 cc's and my son's orthodontist early. We paid off our vehicles in the last 2years.
I am checking out thrift stores more often and salvage stores.
I am cooking from scratch more.
All credit card spending has STOPPED.
We rethink all purchases -can we borrow it? make it? make do w/out it?
We rarely eat out. We instead have a REALLY nice meal in.
Do we feel like we are doing without??? Not really. We have what we need and some of what we want. But that feeling of being in control of finances and our lives is priceless.

**Must-Stash** · 03-26-2009, 07:00 AM

Ditto for what everyone else has said.

I used to be complacent in my frugality. My mind set was a "just in case" one.

With the economy now as it is, paranoia rules. I need to do more but don't know if there is such a thing as "enough" preparation.

**ladytoysdream** · 03-26-2009, 07:10 AM

The change for me is to be even more frugal than my norm.
More of a challenge every week when I buy what we need for groceries.
Bigger things we NEED from our list, are bought when we have the cash in hand for them.
Recently I had to squeeze into the budget a part for his kubota tractor. I was not a happy camper with the price of the part. Not at all.
We had a friend's college son here to check to make sure hubby had diagnosed the problem correctly. I hate buying extra big dollar parts we don't need. And we needed a part for our generator too. So the parts don't fit the budget but had to be worked into it. I'm still mumbling. Hubby was able to put the new part on himself, thank goodness. So because of the economy and prices, etc, hubby is doing more of his own mechanical fixing whether he wants to or not .......

**tigo** · 03-26-2009, 07:42 AM

I am back to really restocking our pantry. I had been just maintaining it but now I am back to bulking it up when I find things on sale that we use. Last year, I had moved away from our frugal meal plan because we were a little flush with cash so I was experimenting with recipes every weekend. That was nice, but now, we would rather be putting the cash towards savings and debt reduction.

**2ndGenGranola** · 03-26-2009, 07:51 AM

We have really cranked up the frugality just to make a "padding" area for us. We took a big hit with high gasoline prices and medical bills at the same time. Every frugal thing I was doing before I'm still doing but more "religiously". The stockpile in my pantry has gone from 6 weeks to 6 months (or more), I'm watching my utilities more closely, we are focusing in on cc use...

I have noticed that since we now have the "frugal fad" going on with those who usually are not frugal, I am not seeing the deals I once saw so I am buying less and less. Even at Walmart, I'm not seeing the $3 clothes that I'm used to buying.

**Denvergirlie** · 03-26-2009, 09:02 AM

Honestly, my shopping behaviors haven't changed at all in the recent year.

Well actually, we have made a few purchases that we would not have made, but they are more prepatory purchases for our tinfoil hat tendancies. So a few larger purchases that might not have been made at this time, so actually we are spending more now that we have in the past few years.

But "normal" shopping like groceries, clothing and such, no change.

**Greebo** · 03-26-2009, 09:12 AM

It hasn't affected us, really. We had our major change last year when we got on the debt free plan.

**mombottoo** · 03-26-2009, 11:28 AM

It hasn't really affected my shopping behavior at all, I still shop the same way...sales, coupons, stockpiling...I've done those things for over 30 years no matter the state of the economy.