No money, no spending!

[RD4Bingo]

I keep hearing Americans are not spending, they are saving. Well, I don't know about anyone else but we are barely making it. Nothing is late YET. I don't know anyone who is saving like I keep hearing. All the people I know are living week to week. Everything is going up in price except our income. So, does anyone know who's doing all this saving that the government is talking about? If so, please tell me how they are doing it. I would love to do it too! Maybe Americans are not spending because their bills and cost of living to take care of their families are taking all their money!

[coolhead]

I keep hearing Americans are not spending, they are saving. Well, I don't know about anyone else but we are barely making it. Nothing is late YET. I don't know anyone who is saving like I keep hearing. All the people I know are living week to week. Everything is going up in price except our income. So, does anyone know who's doing all this saving that the government is talking about? If so, please tell me how they are doing it. I would love to do it too! Maybe Americans are not spending because their bills and cost of living to take care of their families are taking all their money!

I irony is the economy needs people to borrow and spend but it also needs people to save reduce it's debt....

[Lisaren]

The savings rate does not take into account money placed in 401(k) or other retirement programs. The increase in savings could be credited to the number of people reducing 401(K) contributions and putting that money in a non invesment account.

[lassidor]

Maybe Americans are not spending because their bills and cost of living to take care of their families are taking all their money!

Guess they should get rid of the Iphones etc. I'm a construction worker and one thing they tought us in the apprenticeship program was that construction workers average only working 9 months a year and to save accordingly. This is very good advice for everyone. Live within you means. It's hard because everything is nice to have but hard to keep when your out of work.

[JoJo626]

Guess they should get rid of the Iphones etc. I'm a construction worker and one thing they tought us in the apprenticeship program was that construction workers average only working 9 months a year and to save accordingly. This is very good advice for everyone. Live within you means. It's hard because everything is nice to have but hard to keep when your out of work.

My husband's business is seasonal also, so we have to allow for living expenses over the off season (Nov-Jan) as well as all the business expenses. I work full-time so that helps, but about half of my salary goes to my benefits package (medical/dental/life ins for us all/short and long term disability). The only thing I didn't elect was the 403(b).

We have no credit cards. If we can't pay cash, we don't buy. Our "newest" vehicle is a 1997; it has 130,000 miles. The work truck is a 1995 with 350,000+ miles on it.

A lot of people call us "cheap" because we don't drive 2 new vehicles and live in a better home, but those people are the ones that are mortgaged to the gills and are in peril of losing their "lifestyle".

[heball]

I've given up on Mutual Funds and similar invesments, lost over $1880 in the last two months and dividends were only paying $0.004 annually. Retained Mutual Funds for long term but shifted investment strategy to equity dividends. Started by focusing on pipeline industry. Each time they turn a valve to release more fuel to an airport or tanker terminal the cash register hits the jackpot. And the yields beat any CD or T bill. Then diversified into an oil company, construction equipment, New York utility company, soda company, and a pharmaceutical with a long history of steadily increased dividends. Both the spouse and I work, have little or no social life, I use my military retirement for investing in order to put a 11 yr old through college in a few more years. The key to cooking? "Stir fry", vegetables, noodles, and a little bit of meat. (2 chicken boneless thighs or 1/2 lb sirlon or 1/2 lb pork feeds 4). Saves $$ in the long run.

[heball]

I've given up on Mutual Funds and similar invesments, lost over $1880 in the last two months and dividends were only paying $0.004 annually. Retained Mutual Funds for long term but shifted investment strategy to equity dividends. Started by focusing on pipeline industry. Each time they turn a valve to release more fuel to an airport or tanker terminal the cash register hits the jackpot. And the yields beat any CD or T bill. Then diversified into an oil company, construction equipment, New York utility company, soda company, and a pharmaceutical with a long history of steadily increased dividends. Both the spouse and I work, have little or no social life, I use my military retirement for investing in order to put a 11 yr old through college in a few more years. The key to cooking? "Stir fry", vegetables, noodles, and a little bit of meat. (2 chicken boneless thighs or 1/2 lb sirlon or 1/2 lb pork feeds 4). Saves $$ in the long run.