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Do you think people's spending habits will be forever altered?

Like the folks who came through the Great Depression - that carried over into every aspect of their lives ~


Asked by tasches at 7:47 PM on Jun. 9, 2011 in Money & Work

Level 48 (298,202 Credits)
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Answers (6)
  • It depends on the person I suppose and how affected you are by it. I am learning to be cautious and thrifty and I will carry that into all parts of my life but I do know that I have to remember to enjoy my hard work earnings and splurge once in a ALL aspects of life.

    Answer by MissyNewMama at 7:49 PM on Jun. 9, 2011

  • Some yes, but many ? No . Consumer debt for example dropped sharply earlier in the recession but has since risen again . We are still very much a consumer society urged on by saturation advertising to spend and spend .

    Answer by janet116 at 8:04 PM on Jun. 9, 2011

  • I think that people who have been impacted may realize that it happened once and it could happen again. But then there are those who will never learn. For us, we weren't directly impacted, but before the recession started we had already started making some drastic changes with our money and budgeting. Then to top it off my husbands company started making cut backs and while he wasn't affected, it showed us that anything could happen.

    Answer by slw123 at 9:04 PM on Jun. 9, 2011

  • absolutely. I can tell by my grandmother's spending habits.

    Answer by dixie383 at 10:39 PM on Jun. 9, 2011

  • Yes, I hope. I think a lot of people will be paying off debt incurred by this terrible recession/unemployment for a while so that will reinforce the lessons learned.

    Answer by home12 at 8:57 PM on Jun. 9, 2011

  • I'll be honest, my family wasn't greatly affected by the depression, they were poor well before it hit and had already learned to self sustain. As for today, I have yet to really be affected by this "downturn" and doubt I will be.

    Answer by SabrinaMBowen at 11:40 PM on Jun. 9, 2011