Well the wait is over and the first batches of economic stimulus checks have already been sent. Retailers across the country are lining up to entice customers to spend their money with them. Many stores like Sears and Kmart are giving customers 10 percent discounts if they convert their entire check into a gift cards at their stores. The question for many people is to spend or not to spend.
With gas prices literally increasing overnight to record highs, it’s a difficult decision for many families. Lets face facts, times are hard. The unemployment rate is up, prices are up and there seems to be end in sight. Today The Home Depot announced that its closing 15 of its under performing stores in 10 states. I don’t think many families are eyeing that 42” plasma TV most are probably thinking of fattening their savings accounts.
The government wants you to spend that money at Walmart or Best Buy to help kick economy in the, "you know what." But people are understandably nervous about spending money during uncertain times. As food and gas prices rise I would think most families would spend some of the money in those two areas and save the rest or pay down bills.
I don’t know about you, but I’m not getting excited about running to Best Buy and buying a brand new TV or anything else for that matter. I’m going to save some of my money for a rainy day. I don’t think we have seen the worst from this economy and I’m betting the money I’m saving now will be worth saving. I saw a news report yesterday about restaurants paying higher prices for food with a decrease in diners. I will do my part to help the economy by going to my favorite places to eat. Sushi anyone?
In the end people are going to spend what they think is appropriate for them and save when they can. I was reading an article about how to spend your refunds, there were ideas tossed out like donating to charities, investing, etc. I say if you are going to spend it, spend it smartly. Look for those discount deals; get more for your hard earned bucks! If you are looking to buy lots of rice at the discount clubs, you may encounter some problems.
With gas prices literally increasing overnight to record highs, it’s a difficult decision for many families. Lets face facts, times are hard. The unemployment rate is up, prices are up and there seems to be end in sight. Today The Home Depot announced that its closing 15 of its under performing stores in 10 states. I don’t think many families are eyeing that 42” plasma TV most are probably thinking of fattening their savings accounts.
The government wants you to spend that money at Walmart or Best Buy to help kick economy in the, "you know what." But people are understandably nervous about spending money during uncertain times. As food and gas prices rise I would think most families would spend some of the money in those two areas and save the rest or pay down bills.
I don’t know about you, but I’m not getting excited about running to Best Buy and buying a brand new TV or anything else for that matter. I’m going to save some of my money for a rainy day. I don’t think we have seen the worst from this economy and I’m betting the money I’m saving now will be worth saving. I saw a news report yesterday about restaurants paying higher prices for food with a decrease in diners. I will do my part to help the economy by going to my favorite places to eat. Sushi anyone?
In the end people are going to spend what they think is appropriate for them and save when they can. I was reading an article about how to spend your refunds, there were ideas tossed out like donating to charities, investing, etc. I say if you are going to spend it, spend it smartly. Look for those discount deals; get more for your hard earned bucks! If you are looking to buy lots of rice at the discount clubs, you may encounter some problems.
Happy Spending or Happy Saving!
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