Is Frugality In?
The recession may have bred a new brand of American consumer, or rather anti-consumer. Apparently consumption is out and anti-consumerism is in. We did lose millions of jobs in the past several months, but many people who are adopting a frugal lifestyle still have a steady job which they do not fear losing. But they did lose wealth. Either investments dropped, housing values sank, savings rates plunged, or they certainly knew people who had that experience. Even if the value of assets are starting to climb back up, many Americans got the wake up call, and they are really working on spending less and saving more!
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