“Consumers are aggressively cutting back,” said Scott Hoyt, director of consumer economics with Moody ’s Economy.com. “They’re not even taking the savings from lower gas prices and spending it in stores.”

Recession? Depression?

Fears of an extended recession has made many people very anxious about their spending. We are not alone. A quick Google News search of recession yields recession talk from Italy, Hong Kong, Europe. Gas prices have taken their toll on wallets but now that gas is decreasing people aren’t reallocating those funds into different areas. Groceries are still expensive. Jobless claims are up but this only includes those who have received unemployment benefits, and only lists those who have been unemployed for the previous six months. If you didn’t receive benefits, or have been searching for employment for a while, then you probably aren’t included in the jobless rate.

If you have not been to a store, or better yet, if you have been to a store or a restaurant, you will truly understand the recent reporting that retail sales report a drop. For people who have been paring down their spending because of credit problems or unemployment then this should be no surprise.

The lack of spending is also taking its toll on charities. Since there are more people who need to use the services that some charities provide. People who need to feed their families, pay for heating bills and job seekers need help but these are more up front concerns. Programs like domestic violence, training programs, and family services have not gone away everyone is facing problems with money. Take a little and help out someone in need – even if you only donate a few coins this will really help people this year.