Recession Shopping

Recession Shopping
Strange title, I know. So, it is pretty obvious at this point that we are in the midst of a recession. I see ads for trucks that were $30,000 dollars a couple of years ago and are now going for about half that price, new.

The manufacturers and retailers are upset because this could be the worst holiday shopping season in years. But, the way that I see it, is if you’re still employed and making decent money this could become the shopping opportunity of the decade.

Everything will be on sale as the retailers try to clear out their merchandise. Need a big screen TV? The prices are getting pretty attractive. Need a new car, nows a great time to buy. The only condition to this is that it’s hard to get loans. If you have cash, you’re going to clean up.

Even the price of houses has crashed in many areas. If you’ve got stable employment, I see it as pretty close to the time to buy.

What are your thoughts? Personally, if I'm still employed, I'm stocking up on some large ticket items that I've wanted.

Personally, recession or not, it is a matter of "Want" versus "Need".

This is the time most of all, when even shopping for gifts I prefer to buy something a person needs. Wants should fall by the wayside.
Of course, Iam a tightwad at the best of times and being frugal helps me in ways you cannot imagine.
I must explain that I view things differently from most people.

For example:
Buying a big screen TV.
I WOULD NEVER.
I see it as RAW material first. Then I look for how useful it is. Then I compare NEED to WANT. Then I re-read the price tag.
What could I buy that I really need, for that same price???
How much did it really cost to manufacture it...and how much is the difference between that and the price tag?
What could I buy with the difference, if I found a less expensive alternative?
How many hours would I have to work to pay for this item? Is it worth it?

If making payments, are you ready to pay the amount of interest over time which can almost double the initial cost? EEEK!

OP, you mention "IF" you are still employed. That statement right there, tells me, you should be packing money away for needs, not wants.
Sale prices are great, but not at the expense of the necessities of life.

reply to post by Wildbob77


I wont take advantage of it. Let's call it lesson learned. I'm embarassed as to the life i lived and lack of judgement I displayed. All of it infront of my kids who learned only negative financial discipline from me.

Those days are over for me. It was fun, now it's time for me to do what i new was right all along.

Access where were you to smack me on the back of the head while shopping. Although i must say i don't regret the big screen.

reply to post by anotherdad


I learned through the trial and error of my parents and my ex husband.
Enough said.
And a series of books called "The Tightwad Gazette".
In my opinion, the author is a saint.

reply to post by AccessDenied


Well my parents were the tightwads, i understand now. So i guess i rebelled and became a drunkin sailor on payday.

Originally posted by Wildbob77

Everything will be on sale as the retailers try to clear out their merchandise. Need a big screen TV? The prices are getting pretty attractive. Need a new car, nows a great time to buy. The only condition to this is that it’s hard to get loans. If you have cash, you’re going to clean up.

money.cnn.com...

according to the circular, Wal-Mart's so-called doorbuster deals offered between 5 a.m. and 10 a.m. ET will include a 50-inch Samsung plasma HDTV ($798), Magnavox Blu-ray player ($128), Xbox 360 ($199) sold with free Guitar Hero III Legends of Rock game and wireless guitar, HP Pavilion desktop computer ($398) and a UniFlame gas grill ($175).

It really hurts deep inside my heart knowing that I paid $2,500 for the same TV in 2006.


Note to self: When new technology hits the market... wait two or three years.

If you have A stable job, jump in. I work in health care, an area one would think is stabe, but in my area, it's not. In fact, I'm afraid the both hospitals in my area will close. Then I'll have to drive at least 50 miles. I don't really think there is ANY stable job right now. I'm keeping my money in my pocket right now, excersicng caution in my spending, and just trying to take care of my family.
But there is another reason, I'm holding on to my money. I'm not buying anything that is not mandatory for my survivial because I am not going to send my tax money to the local, state, and federal government in the form of sales taxes. I am notifying the local auto companies that I am not buying a new car because of the taxes, registration, and excise fees that are attatched to such a purchase. I am not buying new winter clothes at walmart, for the same reason. I have already cut my driving back to the bone, so they are getting less of my tax money. If enough of us do this, perhaps the government will learn that they have to do the same thing we do. Live within our means.

I gave the TV example because my TV is old and the US is going digital. So far I've resisted the "need" but the deals are getting pretty good.

I have no debt. I don't run up my credit cards etc. We've always been under control financially.

BUT!!! There are large ticket items that we have been considering and I think that we're approaching a buying opportunity. I have the money. It's not making anything in the bank.

So, I'm seeing an opportunity that hasn't been there until now.

Yeap, I'm getting those leopard shin sneakers. ''

reply to post by kettlebellysmith


Good points. We've always exercised financial discipline.

So, my main point is if there are things that you really need, and you have a job and the money, now is a great time to buy.

When (hope hope hope) the economy rebounds these deals will be gone.

Originally posted by Wildbob77
Recession Shopping
Strange title, I know. So, it is pretty obvious at this point that we are in the midst of a recession. I see ads for trucks that were $30,000 dollars a couple of years ago and are now going for about half that price, new.

The manufacturers and retailers are upset because this could be the worst holiday shopping season in years. But, the way that I see it, is if you’re still employed and making decent money this could become the shopping opportunity of the decade.

Everything will be on sale as the retailers try to clear out their merchandise. Need a big screen TV? The prices are getting pretty attractive. Need a new car, nows a great time to buy. The only condition to this is that it’s hard to get loans. If you have cash, you’re going to clean up.

Even the price of houses has crashed in many areas. If you’ve got stable employment, I see it as pretty close to the time to buy.

What are your thoughts? Personally, if I'm still employed, I'm stocking up on some large ticket items that I've wanted.

If uncle sam issues a recovery check before christmas and depending on how much it is, I would consider it. other wise alot of people would be scared to spend, myself I would have a good turkey dinner and say grace and leave it at that.

My 4 year old grandchild when she see's a toy commercial on TV she always says"buy that", wander where she picked that up at, not me for sure.

Originally posted by kettlebellysmith
I'm keeping my money in my pocket right now, excersicng caution in my spending, and just trying to take care of my family.

It is this mind set right here... right here alone....

This is why we are headed for a depression.

Anyway, America is based on life's little luxuries. Once people sacrifice these luxuries that we have all grown to enjoy, you can see the Great Depression's face peeking around the corner.

For example... I'm getting my hair cut less frequently, I've canceled HBO and all my movie channels, I've decided to not care about fashion anymore, No more nights at the bar... Ill drink at home instead, and I will eat at restaurants less frequently.

America has the same mind set.... This is what's going to really be the cause of 15% unemployment in 2010.

Yes think about it for a while suppose something comes up and you end up outdoors,you'll have a hard time enjoying your big screen,with no source of power,but if you have extra money and you need a replacement then spend wisely,lol I know I see cool sports cars I can get cheap but why do I need anymore cars

reply to post by Oldtimer2


We've always spent wisely. We'll be some of the last people that get kicked out of their homes.

We've always had the attitude that if you need something, you work, save money and they you can purchase the item. No debt... No problems.

The only bargins I'll be looking for this year are sales on socks, work shoes, and work shirts and pants.

Good, sturdy, quality made items with a life of over 6 months minimum.

As far as those "non-essentials" and gadgets? Count me out.

Those big screen new fangled televisions? They have a life expectancy of 10 years, maximum. No thanks. I'll stick with my old school 1980's television.

New video game consoles? Again, I'll pass. They keep upgrading the console and software ever two years or so. Not a valid investment for me.

iPhone? Oh god, don't make me laugh.

Fashion and trend clothing? Nope. Once again, I have no use for t-shirts, pants and sweaters so thin I can see through them and they fall apart after five washings.

This year - the holidays are about family for me.

Peace.

reply to post by GENERAL EYES


Holidays are always about family for me also.

I've got more cloths then I need for the rest of my life.

I do need a few power tools and a couple of other large ticket items so I'll be watching for extreme deals. If the deals aren't good enough, then I'm not buying.

Unless solar panels, canning supplies, live stock and gardening supplies go on sale I won't be getting any bargains.

For the past several years I've found it easier to write checks for my children and grandchildren as gifts at Christmas. Not this year. I will be buying clothes and necessities. Maybe those things will be on sale and I will get a break after all.

I feel it's time to batten down the hatches for the coming financial storm.

Originally posted by Wildbob77


BUT!!! There are large ticket items that we have been considering and I think that we're approaching a buying opportunity. I have the money. It's not making anything in the bank.

I would agree that if they are things you have thought about for a long time, and still want and "need" in your opinion, now or soon is going to be a good time to buy. Although I am going to guess that prices arent really going to drop until they see how poor the Christmas season progresses.

I recently sold my home, and got rid of a LOT of stuff in preparation for a big move, and I have to tell you, I am in no hurry to replace any of it. The less I have, the better I feel in general, though there are some things that I find I really enjoy, a fantastic computer among them.

Know thyself, and if there are specific things you feel you need, go for it. You are right that your money in the bank isnt earning a lot, but remember that peace of mind is a commodity too, and be sure to have enough set aside that you can weather a sudden loss of income or other unfortunate occurrence. These bargain prices are going to come at a cost, jobs. Although you may feel safe at the moment, it sometimes is really difficult to predict how a collapse of one segment of the economy is going to impact yours.

reply to post by Illusionsaregrander


Good for you. We've been downsizing for what seems like quite awhile. My kids are adults, out on their own and we take loads of stuff to the charities but still seem to have a full house.

We don't really purchase that much anymore and the things that we do buy we tend to go for good quality, not flashy or trendy. Take for example shoes. When you want to purchase a pair of shoes what do you look for? We want comfortable, durable shoes. Style comes only as an after thought.

So, I just went for a walk to get away from my computer for a bit.

I was heading about 1/2 mile down the road to the local mini mart and I walked by a Toyota dealership. I've made this walk many times since I've been working at this location but today something different happened.

One of the salesmen on the lot came out to the sidewalk and tried to get me to come in and look at cars. I politely said "No thanks" and continued walking. He walked with me and really tried to get me to come in and check out the inventory.

As I kept walking his last remark was "I'll sell you anything on the lot at our cost. I'll show you the invoice"

See, there are deals in the wind.

Guns and toilet paper...enuf said

[edit on 14-11-2008 by all2human]