In this recession, frugal is cool
-->Credit, Credit Crunch, The Economy March 4th, 2009
Good article on CNN.com. This is really good news for our country.
With the economy in shambles and so many people losing their jobs and homes, it is no longer considered cool to brag about possessions and purchases.
For many during a deepening recession, conspicuous consumption is out and frugality is the new black.
Yarrow said that despite the tough economic times, there are many Americans who still have disposable income.
Those people are choosing not to spend, she said, or making more thoughtful purchases.
“What I am saying is that we have moved from an era of conspicuous consumption to an era of considered consumption,” Yarrow said. “People at one time wanted to showcase all of the things they are buying and now they are stopping and really thinking about it.”
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