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Economic Woes
By Daphne | May 22, 2008
Before the 1980s, consumer spending made up about 63% of the nation’s gross domestic product, a key measure of the economy. Since then, it has grown to about 70% as Americans took on more debt to fuel their buying habits.
This is not very enlightening news. I was rather disheartened to read that more than two thirds of our GDP is because of spending. This wouldn’t be such a big issue except people are not living within their means. The biggest problem is not that people are spending, as mush as the problem is that people are not saving.
The US economy is definitely taking a beating because of the prices of necessities steadily increasing and the value of investments including real estate declining.
For now some ways to stretch your dollars include:
Take public transportation when possible
Use the library to borrow books and other media
Start a book club with some friends using only books you can borrow from the library or only concentrate on classics or a certain author.
Take up a hobby that doesn’t cost a lot. Better yet, renew your interest in a hobby that you still have the supplies for in your closet (or under the bed)
Go to a park near you for a walk, some people watching or birding.
Have a game night with friends - don’t buy a new game for this, use one you already have
Search your local paper for the free days for museums or festivals in your city.
Though it is hard to save money now since prices are increasing, you can also let your elected officials know how you feel about the economy. Send them an email or call their local office. When the economy improves, stick with a couple of your money saving tactics such as using public transportation or frequenting the library and you will definitely see a long-lasting difference
Topics: May 2008 |