Are we becoming a nation of tightwads? New research says yes
Now that fall is here, it seems Americans have turned over a new leaf when it comes to their spending habits. According to this story from the Associated Press, the country is embracing a budget-conscious outlook, and that collective frugality is likely to stay with us.
It seems like a bygone era rather than just a few years ago that if you wanted a gas-guzzling SUV, new living room furniture (plus a 52-inch TV) or a week-long vacation, you could just refinance your home and suddenly have the money to do whatever you wanted. That came to a screeching halt once the real estate market plummeted, and all signs point toward the resurgence of a trend not seen since the Great Depression: Hanging onto your money.