Interesting reasearch: how the economy is affecting moms in financial choices
- Rating:
5 after 1 vote
Our friends at research firm Allen & Gerritsen published an interesting bit of research(PDF is attached, below) exploring how the downturn has affected moms' outlook, household finances, and purchase priorities. The survey was conducted between Oct. 3-4 of this year, with the Dow at 10,325. It ended the day yesterday at 8,990.
Highlights of their findings include the fact that 65% of moms reported eliminating "anything I don't feel is absolutely necessary for my lifestyle." Only 12% of moms surveyed said they haven't made any changes at all. Nearly a third (29%) said they have had to find new sources of income. Sixty four percent fo those surveyed believe the quality of life for most Americans is declining, and more than half (56%) feel they are worse off financially this year compared to last year.
Fortunately, not all moms believe there is no end in sight -- at least according to the survey. Let the authors know your thoughts and feelings. I'm sure they'd love to know where all of our heads are at!!
Highlights of their findings include the fact that 65% of moms reported eliminating "anything I don't feel is absolutely necessary for my lifestyle." Only 12% of moms surveyed said they haven't made any changes at all. Nearly a third (29%) said they have had to find new sources of income. Sixty four percent fo those surveyed believe the quality of life for most Americans is declining, and more than half (56%) feel they are worse off financially this year compared to last year.
Fortunately, not all moms believe there is no end in sight -- at least according to the survey. Let the authors know your thoughts and feelings. I'm sure they'd love to know where all of our heads are at!!
Tags: economy
- Attachments:
-
-
a-g_street_beat_1_1_oct08.pdf, 565 KB
-
Replies to This Discussion
-
Permalink Reply by Lisa Survillas on -
I think that sounds about right for the moms around me. We are all feeling it. Even the ones who you would think wouldn't be. The stock market has made us all uneasy and worried about the future. Thanks for the share!!
-
Permalink Reply by Kathleen McDade on -
I haven't really changed a lot of things because we were already living pretty frugally! My husband did start a new job this fall, but we were already planning to do that, because things were already difficult for us.
-
Permalink Reply by Joe Cheray on -
One thing I have been doing is really watching my energy usage I don't leave lights on in rooms that I am not in. That has made a huge difference. I also have a huge shade tree out in my front that helps keep my living room cool and my bedroom cool. I have three fans and a ceiling fan in my sons room. I also have a walk out basement that lets a nice breeze in through the house. So I open doors and windows when at all possible to alleviate the use of the air conditioner.
In the winter it isn't so bad here as the unit is very well insulated.
When I do have a vehicle I make sure all the routine maintenance is done so as to ensure better gas mileage.
I think there are always little things to do to help out.
-
Permalink Reply by Kipling on -
Very interesting Megan. I do feel it personally but my friends seem to be pretty split between cutting back and carrying on the same. I am trying to do little things like make lunch for my husband, buy sale items @ the store, etc. Hopefully, this won't go on too long.
-
Permalink Reply by Kristen Andrews: Featured Contributor of Style on -
Interesting article. I can't say we have changed things that much, but as I told a friend we should spend smart in good and bad times and not be wasteful. We are still enjoying many things but are trying to make wise choices and purchase quality items that will last.
-
Permalink Reply by Lorelai on -
This was a great little post. Just about everyone I know has cut back regardless of if they needed to or not. I think it is just we are all more aware of our spending. Instead of buying three sweaters for the kids you buy one, etc.
I have been a avid follower and listener of Dave Ramsey. Therefore I am pretty much debt free which takes a lot of worries off my head. I may not drive a nice little VW, but my van is paid for and that feels good. I just wish the rest of the country had been listening to him. If anyone is interested let me know and I'll post the link to his website or just google him. His tagline is "Financial Freedom".
-
Permalink Reply by Sophia on -
Thanks for the article. It's hard for the economy not to have an impact.
From a business perspective, we have definitely buckled down on non-essential spending and hiring. So no new orders for marketing tchotchkes :( Also much more focused advertising (online, offline) spending. It's pretty bleak right now and it has impacted everything from financing to credit and to advertiser interest.
On the personal side, it means turning down the thermostat to 65, carpooling more (which is a good thing), fewer visits to Whole Foods, less donation amounts to charities, and driving vacations.
-
Permalink Reply by vegasmiss on -
Great article. I think in my world it's half and half. We have made changes but none that have drastically changed our lifestyle. On some things we have scaled back on things like travel, or modified it - drive verus fly. Other things, we still actively enjoy (wining & dining). My husband has curbed his book obsession and rather than buying at Border's every week, he now goes to the library. This I am thankful for - recession or not!
We are fortunate that we don't really have many "needs" right now, the "wants" are controllable. I feel very fortunate to be in a position to be able to keep seeking new accounts, clients and opportunities, but that is also tied into being in a resiliant industry and being based in Vegas. There are so many companies that still want a slice of the Las Vegas pie. As a whole, my husband and I rely on multiple streams of income, and we are continually increasing those revenues as well as the number of streams.
I may be one of the few optimistic people out there - but I really do believe we are a resilient nation and we will pull through.
-
Permalink Reply by LuluMom on -
Great thread, I am wondering about kids though. Help me as I research a blog post about how "the little people" are faring. Do you hear kids talking about the economy? I have asked teachers around the country. There seems to be stress in the NY area. Anyone else see anything?
Anyway, simple living, and all that. Oh, and breathe.
hugs,
LuluMom
-
Permalink Reply by YourOnRamp Mom on -
Great article. We conducted a survey of our members 2 weeks ago and were overwhelmed by the number of moms looking to go back to work. Find our survey here:
http://youronramp.com/blog/catherine/going-back-work-due-financial-...
We are running a teleclass starting next week in response to all the moms who emailed us seeking advice on how to find a career that works for them. If you're a SAHM looking to re-enter the workforce, please join us:
http://youronramp.com/jump-start-your-job-search-class-mothers-read...
Thanks for sharing,
Catherine
-
Permalink Reply by Beth Butler on -
Thanks for sharing this with us - it's always interesting to see what peers across the country are doing. All of us in our home are highly in tune to the economy, we speak about it often as a family in terms of the big picture and in terms of our little slice of paradise on Earth.
It's great that their schools are touching on it (both elementary and high school levels), and all of us feel no sense of despair. Simply a sense of responsibility to conserve more than ever before, recycle more, bring our reuseable bags to Publix to shop, ask for less and give more.
