Consumers wise up in abandoning spendthift ways

Adrienne Radtke plans to keep riding her bike to work even if gas prices drop. Steve Pizzini got rid of his Cadillac Escalade in favor of a 16-year-old Acura and doesn't expect to have another gas-guzzler. "I ... Full Story
West of Western

Palos Hills, IL

#1 Jul 20, 2008
All of the psuedo-millionaires got the rug pulled out from under them. Welcome to the Club of Frugality where we budget our $$, don't use credit cards and save!
tried and true American

Chicago, IL

#2 Jul 20, 2008
This is the economy the invasive shrub has left us all, and a simple reminder of what HIS legacy will be. Standing by aw-shucks-ing away while the country fell into the toilet. Thanks for nada bu$hco.

Chicago, IL

#3 Jul 20, 2008
A major point in this article is people combining shopping trips. But of course, in Chicago, the wise wise City Council has made that virtually impossible by barring large super stores like Walmart and Target from new locations. These are exactly the kind of one-stop shopping experiences that would save gasoline. But obviously, when you're expensing all of your trips to your city account, it doesn't affect the aldermen, only their constituents.
sick and tired

United States

#4 Jul 20, 2008
The media will scare the sh** out of people. I was at Enchanted Castle the other day and it was so many people in there so everybody isn't watching at dime they spend, you still have to get out and enjoy life, when you die you sure can' take it with you.Enjoy but spend wisely not in fear.
sick and tired

United States

#5 Jul 20, 2008
West of Western wrote:
All of the psuedo-millionaires got the rug pulled out from under them. Welcome to the Club of Frugality where we budget our $$, don't use credit cards and save!
So true that's what all this hoolah is about.Now the rich folks see what it feels like to spend their money. We average folks already knew, but now they are trying to scare the dog sh** out of the average person because the rich don't are one way or another. But hey feeling this down economy to.

Elk Grove Village, IL

#6 Jul 20, 2008
I drive around in my 12 year old Toyota and LAUGH MY HEAD OFF at the people driving big, pimped out Escalades and the like. No car payment, relatively low gasoline bill, my condo is nearly paid off and I dumped all the savings into my retirement fund buying value stocks at a bargain price!

Rolling Meadows, IL

#7 Jul 20, 2008
Ummm.. "slight" problem: 70 percent of the U.S. economy is based on consumer spending.

if the majority decides to go polar opposite and go the "Frugal Frank" way (as opposed to frantic, credit-card based spending spree) we're headed for the downward spiral.

the real 800 pound gorilla in the room is incomes (in terms of real dollars) have not risen much in the last thirty years.

that's why the spending spree "had to" be financed by easy credit-- and now that the easy credit has come to a screeching halt, so has the spending spree.
Firstname Lastaname

Macomb, IL

#8 Jul 20, 2008
Americans are smarter than the world thinks.

Watch our savings rate go up too.
formally abducted

United States

#9 Jul 20, 2008
I have been in financing all of my life,and there is one group of people i have met over the years and those are the children and some remaining parents from the great depression,each one saves a small fraction of their income rain or shine,i began to notice that their savings accounts exceeded their checking accounts by an average of 80% these people remember the tough times of the economy back when and have been preparing for this current rainy day-save your money even if its just one lousy buck a day. we are going to go thru hell in the next few years and are going to lose alot more than money,but looking back on the survivors of the last depression gives me hope in the strenth and resolve of the american people,we are not like any that has come before us in history,one day in the next decade we will tell our children stories about these days and quietly smile as did those of the first depression

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