Monday, October 31, 2011
Out of Pocket Change
No disposable income? Blame it on the economy. A survey done on Sunday reveals that one-in-three North Americans say that they have no extra spending money. In our current economic situation, times are tough and having a shortage of cash on hand is becoming frequent. The survey also states that consumers' biggest concern is economic outlook surpassing their concern of rising inflation and job security. This concern isn't just local either, India and other nations are suffering the same effects of the recession. Consumer confidence is also extremely low: "Consumer morale in the euro zone remained especially weak, notably in France, as the region’s debt crisis deepened during the summer." Without consumer confidence, people are less likely to be doling out any extra spending cash. 64% of consumers feel that in our current recession, it is not a good time to be spending... nor do some of them even have the ability to do so. In these tough times, it is best to try and save all that you can in order to keep your head above water!