When you think about it, nobody wants to brag about having money anymore because you never know who you are talking to or what type if financial situation they may be in themselves. With such tough economic times, spending a lot of money is no longer the popular trend. Instead, people are reverting to saving money and shopping the sales.
Spending less money does not make you cheap, nor does it make what you buy cheap. However, cheap is definitely the new chic. With no upturn in the economy looking likely in the near future, even those who do have disposable income seem to be spending less and trying to save more. If you spend your money today, you are not guaranteed that it will be there tomorrow. With people losing a lot of money in their investments, they are less likely to purchase unnecessary items.
Being frugal is now the popular trend and everyone is following along. People are searching for anyway that they can save money here and there. People do not want to lose out on the fashionable items, but they are no longer willing to spend thousands of dollars for these items (hence why those famous big name companies are struggling).
As people look to save, they flock to stores such as TJMaxx, Marshalls, Burlington Coat Factory, Filene’s Basement, and even Target and Wal-Mart. These stores pride themselves on having brand name items for less (not so much Target and Wal-Mart but definitely the other stores). When the customer still wants the brand name, they do not have any other choice but to shop at these stores. However, big department stores such as Macy’s, JCPenny, and Nordstrom are finding that they can no longer follow their same patterns that have worked in the past. They are going to have to lower their prices and offer sales in order to remain competitive and stay in business.
In such a turbulent economy, nobody wants to flaunt their money by walking around with a $4,000 dollar handbag, instead they will brag to their friends about how much money they saved on something they are wearing. If you want to show how careful you are being with your money, make sure everyone knows how much money you are saving instead of spending. If people love something you are wearing or have bought, tell them how much you saved when you bought it, more than likely they will get just as excited as you.
Need some ideas on how to cut back or save? Discover How to Live the Simple Life or How to Recession Proof Your Closet!
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Photo: richcd
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