All Generations Find Ways to Cut Spending
No matter how old we are, we’re all taking steps to trim spending – and hopefully pay off debt and or increase savings. . Sandwich generation baby boomers seem to be making the most changes. But it’s interesting to see that across the generations the recession is changing some spending behaviors.
Here’s the list from the latest Harris Poll. Sure not hard to see why magazines and newspapers are feeling the pinch. More of us are finding that bottled water is not a necessity. So many of us are taking small steps to improve our financial future.
I’d add cancelling a gym membership. Done it myself and turned to walking outside and DVDs.
Also using more coupons across all generations in our households.
My echo boomer children would add – shopping in Mom’s pantry.
Do you have any tips to add?
SPENDING/SAVINGS OVER PAST SIX MONTHS – BY GENERATION
“Have you done or considered doing any of the following over the past six months in order to save money?”
SUMMARY OF ‘HAVE DONE’
Base: All adults
| Total | Generation | |||||||||
| EchoBoomers(18-32) | Gen. X(33-44) | BabyBoomers(45-63) | Matures(64+) | |||||||
| % | % | % | % | % | ||||||
| Purchasing more generic brands | 64 | 58 | 62 | 69 | 67 | |||||
| Brown bagging lunch instead of purchasing it | 47 | 53 | 52 | 55 | 15 | |||||
| Going to the hairdresser/barber/stylist less often | 43 | 40 | 42 | 47 | 41 | |||||
| Switched to refillable water bottle instead of purchasingbottle of water | 36 | 38 | 32 | 38 | 34 | |||||
| Cancelled one or more magazine subscriptions | 34 | 21 | 30 | 41 | 44 | |||||
| Cut down on dry cleaning | 22 | 15 | 18 | 28 | 29 | |||||
| Stopped purchasing coffee in the morning | 20 | 21 | 25 | 21 | 13 | |||||
| Cancelled or cut back cable television service | 21 | 23 | 20 | 23 | 14 | |||||
| Cancelled a newspaper subscription | 21 | 12 | 20 | 24 | 28 | |||||
| Begun carpooling or using mass transit | 14 | 24 | 12 | 13 | 4 | |||||
| Changed or cancelled cell phone service | 15 | 12 | 17 | 16 | 13 | |||||
| Cancelled landline phone service and only using cell phone | 12 | 15 | 17 | 10 | 6 | |||||
Note: Percentages may not add to 100% due to rounding The Harris Poll® #121, October 27, 2009 By Humphrey Taylor, Chairman, The Harris Poll
It’s too bad that we can’t control the costs of health care. Isn’t it odd how we comparison shop for so much, but we never know the costs of health care procedures and treatments? How come I don’t know the cost of a test or an office visit? I’d like to share with you this fun, short video. Check it out.
http://www.whatstherealcost.org/45secondstoshare
ChristineWithRegence
January 12, 2010 at 6:54 pm