What type of spending will deteriorate due to high energy prices?
I can see dining out and entertainment as targets.
I can see dining out and entertainment as targets.
What type of spending?
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Non-BITOGers' vehicle maintenance
I'll add to that vacations and outings, day trips, things of that nature. I think people will also simply try to drive less. Maybe dinner with Grandma can wait a couple more weeks, for example.
Sell McDonalds. Well maybe not. When times get bad, cheaper fast food does better than high end places.
WalMart won't do as well also dollar is going down >>>Higher prices for foreign goods.
WalMart won't do as well also dollar is going down >>>Higher prices for foreign goods.
Al, I think Wal-Mart suffers due to the fact that it has low income shoppers. The high end retail customers don't feel this.
Federated Dept. Stores did lower revenue forcasts.
Federated Dept. Stores did lower revenue forcasts.
For sure eating out. We basically don't.
Cost me $50+ to fill the Volvo yesterday. I can't imagine what the people living on the edge, driving new SUV's with huge gas tanks do when they get the credit card bills.
My wife read something that folks are hocking goods at pawnshops, etc....for fuel!
Cost me $50+ to fill the Volvo yesterday. I can't imagine what the people living on the edge, driving new SUV's with huge gas tanks do when they get the credit card bills.
My wife read something that folks are hocking goods at pawnshops, etc....for fuel!
Kestas
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The newspaper shows us that boating and golfing has gone down recently. 15% fewer boat slips are being leased this year.
Some people are asking us to conserve by use some 15% less fuel. Personally, I live relatively close to work (9 miles) and chain my trips so my errands don't use a lot of gas. What do I do now?... give up going to church and give up what little social life I have? There's no mass transit to speak of where I live.
Some people are asking us to conserve by use some 15% less fuel. Personally, I live relatively close to work (9 miles) and chain my trips so my errands don't use a lot of gas. What do I do now?... give up going to church and give up what little social life I have? There's no mass transit to speak of where I live.
In talking to my employees and customers I'm hearing stories of like last Saturday night at 6:00pm there was no wait at a popular restaurant here in Pittsburgh. The local Sheetz convenience store/ Gas station chain is reporting there has been a drop in gas sales over the last month. I also have heard a lot of people saying it is dead where they are working.
I guess the average family doesn't have that extra $25 a week for entertainment anymore. Personally I think the mind set is more psychological than reality that has hit most consumers. They have the money they just need the excuse to not spend it.
I guess the average family doesn't have that extra $25 a week for entertainment anymore. Personally I think the mind set is more psychological than reality that has hit most consumers. They have the money they just need the excuse to not spend it.
They had an article on the local news about 3 weeks ago about that. There has been a large increase in people pawning items. Pawn shops were complaining that no one was coming in and buying.
I plan to drive to town this weekend and hit the pawn shops to see what kind of deals I can get.
americans cant stop spending. all that will happen is that more people will go even deeper into the debt they already have.
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I'm slowly beginning to feel stupid for not being in any debt.
Not enough inflation to be in debt yet, LOL. Gotta wait until my dollars are dropping in value faster than the interest accrues
Not stupid, just un American. Get out there and start consuming!
JHZR2
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Im going to hit up some pawnshops and start getting discount stuff. I dont mind profiting from others' stupidity.
I have not changed spending at all. I am not in debt (except for my new mortgage, but that is something inevitable to everyone), and I have increased my savings rate. I eat out, go on vacation, fly, etc. But I make sure that I dont spend more than I make, and all is well.. no changes here.
Honestly, I cant really see why people need to change what they do... The $25 or $50 more thayd pay to do something really major, like a trip, even considering slightly higher costs on everything, can easily be budgeted in, if youre just the slightest bit careful with your money. I dont make a lot of money, and I bought as much home as I can afford, as I know where I wanted to live, and didnt want to have to move after I get married, have kids, etc. Im strapped for cash moreso than ever before, yet I still contribute to retirement, and do what I want... without credit card debt.
Maybe Im just not living as upscale or as high a life as others???? I dunno... I havent graduated from K-mart to even the likes of target, but I do drive a BMW, MB and Saab... I must just be weird and crazy.
JMH
I have not changed spending at all. I am not in debt (except for my new mortgage, but that is something inevitable to everyone), and I have increased my savings rate. I eat out, go on vacation, fly, etc. But I make sure that I dont spend more than I make, and all is well.. no changes here.
Honestly, I cant really see why people need to change what they do... The $25 or $50 more thayd pay to do something really major, like a trip, even considering slightly higher costs on everything, can easily be budgeted in, if youre just the slightest bit careful with your money. I dont make a lot of money, and I bought as much home as I can afford, as I know where I wanted to live, and didnt want to have to move after I get married, have kids, etc. Im strapped for cash moreso than ever before, yet I still contribute to retirement, and do what I want... without credit card debt.
Maybe Im just not living as upscale or as high a life as others???? I dunno... I havent graduated from K-mart to even the likes of target, but I do drive a BMW, MB and Saab... I must just be weird and crazy.
JMH
JHZR2 - I parallel a lot of what you write - but throw a wife (no workie) and kids (girls) in the mix, and still no debt (other than house).......enough said. I am a broke dink dog.
18% to the 401K!!!!
18% to the 401K!!!!
Me too. I haven't taken lessons in 25 years or so, but playing guitar remains one of the great things in life. Not only cheaper than a shrink, but way more effective.
"18% to the 401K!!!! "
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Pablo wants to retire at 30.
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Pablo wants to retire at 30.
He'll have to find a time warp if he's gonna do that...
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