Comments on: What Will We Buy To Help Us Through Hard Times? http://www.efinancialblog.com/buy-hard-times/ America's Financial Security and Life Insurance Blog Fri, 03 Sep 2010 07:32:42 -0500 http://wordpress.org/?v=2.8.1 hourly 1 By: Joe http://www.efinancialblog.com/buy-hard-times/comment-page-1/#comment-352 Joe Wed, 10 Dec 2008 21:05:59 +0000 http://www.efinancialblog.com/?p=699#comment-352 I think we are going to see people buying things that are much more durable this year. If people still want to buy things that are fun and entertaining, which is a common theme for this season, then I think we will see a lot cheap things that provide a lot of fun bought. Things like video games, which last a long time and provide a lot of entertainment, will probably be in high demand. People will be looking for long lasting ability more than anything else, so they can capitalize on lots of entertainment over a long time. I think we are going to see people buying things that are much more durable this year. If people still want to buy things that are fun and entertaining, which is a common theme for this season, then I think we will see a lot cheap things that provide a lot of fun bought. Things like video games, which last a long time and provide a lot of entertainment, will probably be in high demand. People will be looking for long lasting ability more than anything else, so they can capitalize on lots of entertainment over a long time.

]]> By: Ethan http://www.efinancialblog.com/buy-hard-times/comment-page-1/#comment-334 Ethan Mon, 08 Dec 2008 21:30:30 +0000 http://www.efinancialblog.com/?p=699#comment-334 Saving definitely involves more than cutting back on the small things in life. Those things tend to be infrequently purchased anyway. Honestly, how often do you buy socks? The biggest expenses tend to be energy related and food related. If we all travel less, turn our lights off more frequently, keep doors closed so rooms stay hot, and buy generic food instead of brand names of the same products, we can all save a large deal of money. It is interesting though that if you did buy less durables, you could save a lot of money. People may want to do this more in general. Buy less clothing, wear it longer, and save a ton of money that could be invested or put in a rainy day fund. Saving definitely involves more than cutting back on the small things in life. Those things tend to be infrequently purchased anyway. Honestly, how often do you buy socks? The biggest expenses tend to be energy related and food related. If we all travel less, turn our lights off more frequently, keep doors closed so rooms stay hot, and buy generic food instead of brand names of the same products, we can all save a large deal of money.

It is interesting though that if you did buy less durables, you could save a lot of money. People may want to do this more in general. Buy less clothing, wear it longer, and save a ton of money that could be invested or put in a rainy day fund.

]]> By: Erik http://www.efinancialblog.com/buy-hard-times/comment-page-1/#comment-320 Erik Wed, 03 Dec 2008 19:12:20 +0000 http://www.efinancialblog.com/?p=699#comment-320 Borrowing money during a time of financial crisis is not a good idea. The article says to only do it when it looks like you've just hit a short-term rough patch... but of COURSE everyone who is out of work or hurting for money tells himself it's just a short-term rough patch. And even if it's a situation that legitimately is a short-term rough patch, the onset of a greater recession or depression will transform it into a long-term problem. My advice: be frugal. Don't live beyond your means. Maybe it stinks to not be able to buy that new car or flat-screen TV, but waiting a year or two will ensure your survival. Don't shoot yourself in the foot, especially if you have a family to support, by borrowing money and throwing yourself into a world of debt. Borrowing money during a time of financial crisis is not a good idea. The article says to only do it when it looks like you’ve just hit a short-term rough patch… but of COURSE everyone who is out of work or hurting for money tells himself it’s just a short-term rough patch. And even if it’s a situation that legitimately is a short-term rough patch, the onset of a greater recession or depression will transform it into a long-term problem. My advice: be frugal. Don’t live beyond your means. Maybe it stinks to not be able to buy that new car or flat-screen TV, but waiting a year or two will ensure your survival. Don’t shoot yourself in the foot, especially if you have a family to support, by borrowing money and throwing yourself into a world of debt.

]]> By: Louis http://www.efinancialblog.com/buy-hard-times/comment-page-1/#comment-313 Louis Mon, 01 Dec 2008 19:27:47 +0000 http://www.efinancialblog.com/?p=699#comment-313 I don’t know about cutting back on power, but I have managed to save by buying differently at the store. I look for generic brands, I buy deli-meat from the deli instead of pre-packaged, and I look for meals that I can make cheaply that yield left-overs. I have also stopped ordering drinks when I eat out, a glass of water is healthy and cheap. I think that the most important way that I have tried to save money is by cutting out the more expensive novelties of my life, such as the lottery ticket I used to buy each week. I don’t know about cutting back on power, but I have managed to save by buying differently at the store. I look for generic brands, I buy deli-meat from the deli instead of pre-packaged, and I look for meals that I can make cheaply that yield left-overs. I have also stopped ordering drinks when I eat out, a glass of water is healthy and cheap. I think that the most important way that I have tried to save money is by cutting out the more expensive novelties of my life, such as the lottery ticket I used to buy each week.

]]> By: George Skinner http://www.efinancialblog.com/buy-hard-times/comment-page-1/#comment-312 George Skinner Mon, 01 Dec 2008 19:17:18 +0000 http://www.efinancialblog.com/?p=699#comment-312 I think that it is plausible that people cut their budgets by not buying socks, but I don’t buy socks that often anyway. Its not like I have a clothing budget built in every month- so I have to find other ways to trim the budget. I have found that little things like unplugging appliances, and turning down the heat in my house have a much larger impact on my monthly finances than I thought. I try to use as few rooms as possible in my house so that I heat them less, and I keep the lights off or dim as much as possible. I have started to sleep earlier and wake up earlier, so that I can make more efficient use of the sun, instead of running up my electric bill during the night hours. If anyone else has ideas for me I would gladly hear them. I think that it is plausible that people cut their budgets by not buying socks, but I don’t buy socks that often anyway. Its not like I have a clothing budget built in every month- so I have to find other ways to trim the budget. I have found that little things like unplugging appliances, and turning down the heat in my house have a much larger impact on my monthly finances than I thought. I try to use as few rooms as possible in my house so that I heat them less, and I keep the lights off or dim as much as possible. I have started to sleep earlier and wake up earlier, so that I can make more efficient use of the sun, instead of running up my electric bill during the night hours. If anyone else has ideas for me I would gladly hear them.

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