“One of the reasons that the re- covery has lost momentum is that high-end consumers have become more jittery and more cautious,” said Mark Zandi, chief economist for Moody’s Analytics. (NYTimes 7-17-10)
We were just talking about this! Everyone is showing signs of saving like they have to. Whether you need to or not, it's a good idea to run a tight ship and save like you have to because someday, you just might have to. Looks like some of these folks are feeling like they have to. I hope it's not too late!
Calculate your cash flow number (or update it), and then reduce the income number. Go through that list of expenses and figure out what can/will be cut.
"Practice like it's a game so the game will feel like practice" #quote
Practice saving like you have to because someday your game may come.
Have you changed any personal finance habits lately?