Quote:
Originally Posted by KTP
Of course the downside here is if everyone budgets, there is going to be a lot more unemployment in the service industry  |
I don't think that is necessarily true. It all depends on priorities. Maybe instead of buying a $40,000 car, someone will decide that the car isn't that important but they really enjoy dining out or travel. So they buy a $15,000 car and that frees up $25,000 that they can then spend on other things.
We dine out more than ever, but it is
because we have our finances well under control that we are able to do so.
I think the service industry - restaurants, hotels, etc. - could benefit from people managing their money better. The sector that would probably suffer is retail as people stop spending money on crap they don't need.
I'd much rather spend on experiences than on things.