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Posted at 12:49 PM ET, 02/15/2011

How has the recession affected your spending and saving habits?

By Sarah Halzack

In the wake of the recession, data shows that consumers are becoming more frugal.

By Sarah Halzack  | February 15, 2011; 12:49 PM ET
 
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Comments

I've always been frugal--during good times and bad.

Posted by: nuzuw | February 15, 2011 1:09 PM | Report abuse

My spending hasn't changed. But hopefully my run of replacing air conditioners and fridges and paying for major doggy surgery has which will allow me to save some more.

Posted by: Anonymous | February 15, 2011 2:01 PM | Report abuse

I'm so poor and underpaid (as a federal employee) that I've gone further into debt with medical expenses and rent increases and a pay freeze.

Posted by: anarcho-liberal-tarian | February 15, 2011 2:06 PM | Report abuse

I never did the other three things, so I was able to pick #4, no change.

Posted by: Anonymous | February 15, 2011 2:30 PM | Report abuse

I just make sure to save more.

Posted by: LittleRed1 | February 15, 2011 2:51 PM | Report abuse

My husband and I recently passed 60, so we bought long term care health insurance so as to not be a burden to our children if we need nursing home care in future years. It has been a stretch to do this, and we have to cut other discretionary spending to do it.

Posted by: GPFR | February 15, 2011 3:38 PM | Report abuse

I ignored the philosophy a family needs 3000 square feet per person.

Posted by: nanonano1 | February 15, 2011 4:03 PM | Report abuse

No big change. I still have the same job making the same money and I like doing the same things. My bills aren't any bigger, my house isn't "under water," and I pay my mortgage like I always did. I'm lucky to be sure, but most people really are.

Posted by: Anonymous | February 15, 2011 4:08 PM | Report abuse

I think this may vary by age group. Older folks are fairly set in their spending and saving habits. They've either become savers or thay haven't. I don't think the current downturn has altered their behaviou. Younger people may see the need to start saving -- that's a great thing.

Posted by: Anonymous | February 15, 2011 4:10 PM | Report abuse

Age 60 is really too late to start Long-Term Care insurance. Of course, it's never too late, but tjhe premiums go way up after age 50. I urge those under 50 to start before your 50th birthday.

Posted by: Anonymous | February 15, 2011 4:13 PM | Report abuse

Age 60 is really too late to start Long-Term Care insurance. Of course, it's never too late, but tjhe premiums go way up if you start after age 50. I urge those under 50 to start before your 50th birthday.

Posted by: Anonymous | February 15, 2011 4:14 PM | Report abuse

The secret to this recession is (put your eyeballs up close to the monitor)... INCOME STREAMING. Gone are the days of working one job, & expecting that to cover necessities, kids, luxuries & dreams. I do what I have to do to provide for the various folks that depending on me, b/c a hungry tummy doesn't give a filth flarin, filth flain about where the money comes from. Word.

Posted by: Anonymous | February 15, 2011 4:30 PM | Report abuse

We haven't really changed our spending habits because of the recession, but we have put off some home modest home improvement changes for now. We also invested more of our savings and moved a chunk of the rest into a slightly higher-interest account.

We've been very lucky to have kept both our jobs and we know that makes a difference. We're grateful. I think that overall, we have a little more financial security (despite the fact that I'm only a teacher) because we pay off our credit cards on time, we don't give a flip about fancy cars, we don't have children to support, and we're aware that spending more on X means spending less on Y.

Posted by: Anonymous | February 15, 2011 6:57 PM | Report abuse

Your polls continue to be lame. You missed "I'm spending more than ever."

Posted by: Anonymous | February 15, 2011 7:04 PM | Report abuse

My habits haven't changed. The one credit card, when used, is paid each month. Never had a home equity loan. Paid 20% down when we bought our house. Save 21% of our income.

Posted by: MNUSA | February 15, 2011 9:01 PM | Report abuse

None of the above were true for me, so I could not vote. My income is much lower than it used to be - less than one third. I was always frugal, but even with that, I not only cannot save anymore, but I have had to dip into my savings to live, not merely frugally, but in order to live!

Posted by: Anonymous | February 15, 2011 9:31 PM | Report abuse

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