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The mood of economic unease has encouraged even the wealthiest 10 percent of Americans to reconsider their spending, which in 2006 represented 1 out of every 4 dollars spent. The Harrison Group, a market-research consultancy firm, and American Express Publishing found in a June survey that 80 percent of these higher-income households are now looking closely at spending, up from 68 percent in April.
"Even the upper-middle class -- with disposable incomes of $100,000 ... are fearful for their future and concerned whether they can weather the economic storm, continuing to live the lifestyle they are currently enjoying," says Burr Brown, vice president at Harrison. "They have become savvy consumers, looking for value." The survey found 82 percent now waited for sales before buying preferred-brand products.
Smart consumers should accept that the economy's challenges are long term, calling for a major downshift in spending. Current borrowing and debt levels are unsustainable. Recognizing the economy's new challenges, spending less will become a necessity.
Originally posted by Andrew E. Wiggin
We're definatly feeling a slight crunch in the pockets of my wife and myself.
The good part is that its cut way back on our spending, just because of the uncertainty of all of this.
While the democrats argue with the republicans about what is going to make our economy better, meanwhile pumping billions into foreign affairs, we get to set on the message boards and talk about it
I'd be curious to know if anyone has taken the "next step" as i have and started writing these people on a weekly basis.
George W. Bush
its the same email just with the name changed every time
I haven't received a response yet - but im still trying dang it.
I'm really sick and tired of paying more money out of my pocket - so congress and the president can do LESS and reap more.
Originally posted by nixie_nox
1000k a month for health insurance, we are going into the red.