Things are changing

[tripods68]

New things are happening in my friends and coworkers. The new BUZZ words i'm hearing more and more,

DEBT is OUT

BLING is OUT

Flaunting is OUT

Paying Cash out right is the new KING

Just over a months ago, i forwarded an online video links to my coworker (Dave Ramsey's buying guide on use car vehicle). He was so motivated that the next following week he paid off his car balance ($19K in change). He admitted to me that wanted to pay it off for so long but just couldn't pull the trigger. Dave' video motivated him to do it and he thanked me for it.
That made me feel good

[ScrimpAndSave]

Awhhh...talk about making a difference! You definitely did!

[kork13]

Originally Posted by tripods68

New things are happening in my friends and coworkers. The new BUZZ words i'm hearing more and more,
DEBT is OUT; BLING is OUT; Flaunting is OUT; Paying Cash out right is the new KING

Give it time.... In time, even this thing shall pass.

Call me a pessimist, but I give the nation until next summer to have turned tail back to hard-core consumerism. Perhaps a more moderated form, due to people who really have changed their way of thinking about money, but debt, bling and flaunting aren't out... They're just out to lunch.

[GREENBACK]

Originally Posted by kork13

Give it time.... In time, even this thing shall pass.

Call me a pessimist, but I give the nation until next summer to have turned tail back to hard-core consumerism. Perhaps a more moderated form, due to people who really have changed their way of thinking about money, but debt, bling and flaunting aren't out... They're just out to lunch.

I have to agree. This is now the trendy thing to do until the good times return and we build up to the next bubble.

[disneysteve]

Originally Posted by kork13

Call me a pessimist, but I give the nation until next summer to have turned tail back to hard-core consumerism. Perhaps a more moderated form, due to people who really have changed their way of thinking about money, but debt, bling and flaunting aren't out... They're just out to lunch.

Sadly, I agree as well. As soon as people feel that things have stabilized, old habits will be back.

[zakity]

Yeah... But, some of them might have learned.

[wincrasher]

Most people who have throttled it back are because they have no choice - either run out of money or credit cut off. Few because it is fashionable.

[kork13]

Originally Posted by zakity

Yeah... But, some of them might have learned.

Oh, I'm certain that some really have learned to be more responsible. Some most assuredly will have decided to ditch the massive debt loads and live according to their means. I hope many really do

Many others, however, are likely just trying to survive the interim--biding their time until they aren't living in fear of being without a job and they can go back to "the good old days". Look at the news... it's a fad. As went marbles, hula-hoops, pogs, and pokemon cards, pop-culture frugality will follow.

[red92s]

Originally Posted by GREENBACK

until the good times return and we build up to the next bubble.

Does anyone else think the "next bubble" will be foreclosure flips? It's beginning to sound a lot like flipping houses was 2 or 3 years ago . . . there are infomercials and books about it poping up all over. I saw a "buying foreclosed properties for dummies" book on prominent display on an endcap at the bookstore last weekend.

[momof1in150]

Originally Posted by red92s

Does anyone else think the "next bubble" will be foreclosure flips? It's beginning to sound a lot like flipping houses was 2 or 3 years ago . . . there are infomercials and books about it poping up all over. I saw a "buying foreclosed properties for dummies" book on prominent display on an endcap at the bookstore last weekend.

We had a staff meeting yesterday and were told that some banks are holding onto foreclosed properties because they want to wait to unload them after the housing market goes back up.

[tripods68]

I would agree "old habits" do comeback. But I'm hopeful "old tricks" don't comeback without our society get into so much debt. We consume so much and spend like drunken sailors. That needs to stop. I maybe naive in thinking this way, but for the sake of our economy and our kids future, we need to learn from our mistakes.

Wife and I went to the "Tea Party Rally" in State Capitol Sacramento. We were fairly surprised how many actual people showed up. It was one of the largest event in the west coast. It was unbelievable. We got a chance to watch Neil Cavuto's do his Fox show LIVE. Frankly it was unbelievable to hear and watched so many people FED UP with our government and rewarding irresponsible behavior at the same time.

The whole event was just 'crazy'.

[financialnut]

Haha... just wait until America becomes "wealthy" again. I learned a lot about this in economics. Obviously when the market is down, America as whole feels "poor." When we feel this way, we don't spend as much.

But just wait... it'll all come back and we'll start going into more debt again. It's just the way it works.

[scoutdjackson]

Heh I think it's going to take quite a bit longer to recover from this bubble again. With all the inflation from the spending, I think we're in for a soft, slow recovery. Might not be bad though--old habits take time to die, I think we'll have plenty of it.

[Joan.of.the.Arch]

Originally Posted by scoutdjackson

Heh I think it's going to take quite a bit longer to recover from this bubble again. With all the inflation from the spending, I think we're in for a soft, slow recovery. Might not be bad though--old habits take time to die, I think we'll have plenty of it.

All what inflation? From all what spending?

[Broken Arrow]

Unfortunately, I also agree old spendy habits will make a comeback.... In fact, I'm even betting on a backlash of consumer binging. I don't think it'll hit abruptly and dramatically or anything, but I would think that there are a lot of people out there who have put a lot of wants and even needs on hold because money has been tight, that they will be purchasing as soon as they can.

I think this recession may have also put a bad taste in some people's mouths, and therefore, as soon as this passes for them, they may say to themselves, "We've done good to survive this harsh financial winter. So let's celebrate and live a little." Taken further, there is also a strange psychology where having felt "poorness", some people will buy themselves luxuries to fool themselves into thinking they are not poor? Odd, but I've seen it before too.

And then there are also some people that will look this recession and believe that it's not their fault. Surely, the government, big banks, credit card companies, and/or even real estate agents have wronged them somehow. In fact, because they've been wrong, they may feel entitled some kind of compensation somehow. For some, it just seems easier to blame others than to hold our own behaviors accountable....

But I'm also trying to be hopeful and I think perhaps this recession may have won some converts as well. I am hoping that, regardless of the tired finger-pointing, some will realize that getting the financial house in order is still an important part of life. I suppose only time will tell....

[tripods68]

Originally Posted by Broken Arrow

But I'm also trying to be hopeful and I think perhaps this recession may have won some converts as well. I am hoping that, regardless of the tired finger-pointing, some will realize that getting the financial house in order is still an important part of life. I suppose only time will tell....

I think many people's habit is changing. Consumer spending is reflective of commercial real estate. One of the biggest commercial real estate in the country just filed bankruptcy yesterday. The national savings are higher today (4 to 5%) than it was 5 years ago when it was negative. A bad economy has psychological affect on people's behavior even on those who have secured jobs. They are also cutting backs, I know we are. The simple facts is keeping up a lifestyle of spending without temperament or enough income isn't sustainable none whatsoever. In effect, sustaining that kind of lifestyle is “fraud” and it makes “mockery” of our capital society when viewed outside this great country.

I’d read online about Ex-rapper and TV actor “Ice T” admitted that his family started cutting on their family expenses. That’s when you know, we are in real period of Depression.

[GREENBACK]

Wait until the reailers, banks, car dealers and everyone else out there with products to sell realizes the economy is back on track. They know the psyche of the american consumer. They will once again lure many into buyig their products through bait and switch-smoke and mirrors advertising. It really does work or they wouldn't spend the money they do on it. They know those spending junkies are still out there and can't turn down their "good" deals. It should be interesting to see how it plays out.