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Borrow Wisely and Spend Wisely - Monday, April 19, 2010 at 09:48
Economist say the Great Recession is technically over. What remains seems to be a new period of financial sobriety or a new era of thriftiness. The previous era was a 20-year spending binge fueled by easy credit and inflated home values. Many families have adjusted to this new thriftiness and have discovered that life is still good. Of course, some spending cuts have been painful, but many discovered the previous spending was for a lot of unnecessary items. Reducing the amount of expensive jewelry, designer clothes, exotic vacations, and many other things, can simply be labeled wiser spending. Looking for value rather than prestige can result in substantial savings. Even some folks who never put money in a savings account are now finding how beneficial a savings account can be. The infatuation with having it all – and having it all at once – will give way to putting priority on what’s most important.


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