Comments on: Are You Just on a Recession Diet?

By: Kevin Tan

Kevin Tan — Wed, 06 Jan 2010 23:57:05 +0000

I am inspired by these comments. Knowing that a lot of people are really getting a frugal mindset that is essential to wealth building. However, I have a related question to this frugality mindset: Would you consider to invest your hard-saved money on a franchise? I mean a lot of people are savings but most of them don’t know where to put that money to grow.

By: Andrew @ Financial Services

Andrew @ Financial Services — Mon, 21 Dec 2009 15:33:06 +0000

It’s in the culture. We eat a lot because we can. We spend a lot because we can. They don’t live like us in other parts of the world and maybe it’s about time we took a cue (something we should’ve done a long time ago) Hopefully all of us learned a lesson from this.

By: Banks

Banks — Thu, 17 Dec 2009 00:17:53 +0000

Hopefully the recession diet will be a more common way to consume. Our society needs to saty on more than one tyoe of diet for soem time.

By: CD Phi

CD Phi — Wed, 16 Dec 2009 23:56:25 +0000

I think saving any time possible is great! That way if I ever get laid off, I’ll know that I have some cushion to fall back on. Interesting analogy!

By: sam

sam — Wed, 16 Dec 2009 09:39:20 +0000

I think this is good advice, especially setting up a way to transfer the money regularly into a savings account every time you are paid. I try to be good and transfer the money myself each month when I pay my rent but sometimes when I think just in case I leave the money in my account and then it just gets spent. As mentioned above by Bobby I think people will soon stop saving and get back to big spending.

By: Bobby

Bobby — Tue, 15 Dec 2009 23:13:07 +0000

Thanks for the posting.
I think a vast majority of people try to live up to what they make as opposed to living comfortably. We will, as a nation, get back to the big spending. I have yet the desire to impress people I don’t know buying things I don’t need.

By: Financial Samurai

Financial Samurai — Tue, 15 Dec 2009 20:29:02 +0000

Yep, the less I have, the more I can focus what I do have. The accumulation of stuff never ends, so it’s important to just focus on what you really need and want.

By: Miranda

Miranda — Tue, 15 Dec 2009 18:34:50 +0000

I think it’s too bad that our economy is so dependent on debt-fueled consumer spending. And we are dependent upon it because it’s more exciting. We could have a more sustainable economy (though natural downcycles will always occur), and a more stable economy, if there was more of a balance between debt driven consumer spending and saving. But since it’s more exciting to have explosive growth, as a society we are, unfortunately, likely to stay more or less on the same course. Unless we all band together to change our money lifestyle…

By: Miranda

Miranda — Tue, 15 Dec 2009 18:32:43 +0000

I agree that education and motivation are very important. These two principles would go a long way in helping people reform their money habits into something that is a lifestyle, rather than a short-term change.

By: John DeFlumeri Jr

John DeFlumeri Jr — Tue, 15 Dec 2009 18:08:55 +0000

We’ve all seen it, at the first sign of things getting better, some people go crazy spending and taking on new crushing installment loans.

John DeFlumeri Jr