Bankruptcy

How We?re Coping with the Recession

By meaghano

By now, you?ve probably heard classic advice on how to survive a recession: buy generic, pare extra costs, focus on necessities … But are we actually taking the advice pouring at us from so many news outlets?

According to a recent article in USA Today, we are.

It seems we are spending money, albeit not on new gadgets and glamorous accessories.

Here are some sales figures from various U.S. vendors:

• Sales at Goodwill Industries are on the rise, with a reported7 percent increase in March from a year ago.
• Shoppers used 10 percent more coupons in the fourth quarter of last year than in the third, indicating that pinching pennies is growing more popular.
• Rather than splurging on nights out, Americans are funneling their funds to existing debt, as evidenced by a 2 percent decrease in consumer borrowing in the first quarter of this year and a 6.5 percent decrease in revolving credit.
• Figures from the National Association of Home Builders show that Americans are spending more on repairing and remodeling their houses. Though numbers are still below what?s considered ideal, they?ve jumped significantly since last year.  (Read about foreclosure and the recession)

Traveling in a Recession

A recent Associated Press article  reports on the rising popularity of home-swap vacations for travelers looking to cut costs but still get away from home for a while.

Most experts recommend joining an online home-swap Web site to eliminate some of the risks associated with trading houses with strangers.

People who want to get off the beaten tourist track on their voyages may enjoy the home-swap experience ? but even if you don?t have a house to offer in exchange, you may be able to travel for a fraction of traditional costs.

Another recession-friendly trend is the couch-surfing experience. (Check it out!) Again, you begin your trip online and find hosts in the area you?d like to travel with a lifestyle that matches up with yours.

For more tips on how to make the most of your limited travel dollars, check out this article about how to travel on a budget.

Full post as published by The Bankruptcy Blog on May 29, 2009 (boomark / email).