reserving spending to the bare necessities might mean being able to pay the rent and staying off the homeless path. As long as there's a job, there's some hope. Although, in this times of economic crisis, being jobless might be a better route. There's more assistance and services for those unemployed that for those on a tight budget and a job. As a single parent, getting out of debt is impossible at least for now. But, of course we have to be hopeful and move forward, what else is there, anyway.
April 21st, 2009 1:35 pm ET
Hey Quest–it was great seeing you for the first time when you were chatting with Cooper, you definitely brought something unique in a way that many other news people are unable to do. You're sorta goofy in the Erica Hill type of way. Was refreshing to see.
As for spending, I'm trying not to. I think many of the excesses that we have been counting on has been placed on the back burner. Even with the simple things such as diet, for those who been putting on some extra weight, the recession and money conscious really helped to knock off those extra 10 or 15 pounds.
So am I spending? Yes, but not as much as I was accustomed to.
Give us some warning via twitter or the blog next time you plan to be on American CNN, would ya?
April 21st, 2009 1:52 pm ET
We spend on new acquisitions as if we had just one salary. Thus, if we lose an income we will be able to keep up with our basic expenses without going into big debt. Luckily, we have been cautious about spending for quite sometime –paying as we go or foregoing the purchase. We are just about to replace our car, but can do it because it is in our "single income" budget and it won't change our current budget. Overall our general goal is to stay out of debt where possible.
April 21st, 2009 2:07 pm ET
Perhaps the reason you are out of sorts is stress of redecorating your home without having me to sort you out and guide you through the bargains.
April 21st, 2009 3:36 pm ET
Yes Prof.Quest...we are spending on the London Tower and partly on the leaning post of Pisa....by the way we are searching for the 1939 depression veteran for a morsel of depression advise. Economy lies in the hand of the ordinary people and not sold in the business markets or those ghostly financial structures....and we ordinary guys are lending or spending the money to the economy. Can the banks lend...ha ha ha..they themselves are battering their belonging. To be honest we have become Misers...and our plastic card pops out of the ATM pop corn machines... at the speed of light on the display..."Sorry the ATM is out of cash". No money Prof. Quest, please advise someone to invest on us.
April 21st, 2009 8:29 pm ET
Reserve our spending for those projects dear to our heart. I like that. I recently conducted a survey - asked the question "How would you define Luxury today?". The sentiment that came up most often, without a doubt was - Something greater than oneself– My pet definition of Luxury today or in any time, is "something that can never be achieved". For as soon as we have defined or captured "luxury", the bar for 'what is luxury' has already been raised. As Maslow has taught us, it is not within our (human) nature to be satisfied with the status quo.
So I agree that we may save on some things, but on those near and dear to our hearts, we will continue to spend. The mind set that spending is selfish is a false mind set. Spending today is a good medicinal "pay it forward". Especially if you are spending on someone else. Gift giving is the ultimate recession buster. You get the economic stimulus of the spend, the feel good factor of giving plus the feel good factor of receiving. You have no idea how special you made my daughter feel by giving her the simple gift of a QMB pen. I certainly believe it did not cost you much at all, but to her its a true luxury item. All the best Richard!
Lauro Silva - Brazil
April 22nd, 2009 3:23 am ET
follow this thinking. Too many people have too many things to be bought using the too much bailedout money. On the other hand, too many factories, industries hard hit by the mess are in a low level of production, if not shut down, not being able to balance the too big new demand. As a result the prices would start increasing a lot and a too high inflation rate era would be in turn starting out devaluating the dollar a lot, what would be a lot catastrophic for the entire world. Is it worth the spending? Or maybe I am already a lot crazy thinking of the mess.
Shahid Sarwar - Bangladesh
April 22nd, 2009 11:44 am ET
Yes, i am trying to earn more and keep my spending as it was. if I earn more – I spend. If I spend, the money moves on and if the Money moves on – the economy moves on. Its actually the media which has starled everyone and people are not spending hence the economy is not moving. I would suggest everyone to spend more to keep the economy moving….
April 22nd, 2009 6:51 pm ET
yes,Iam expending in clothing due to lconstant loseof weight caused by an vca in december 2008
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