In September, consumers spent more but made less than expected. As a result, the national savings rate dropped to 3.6%, which is the lowest level it has been since the beginning of the recession. And that has some people nervous.
The Great Recession has made consumers reconsider purchases that were once made without much thought. Perhaps, the new thinking goes, you don’t need a new wardrobe every season or a new refrigerator every two years. Perhaps you should only make these sorts of purchases when they are truly necessary. But, speaking of necessities, don’t you [...]
Economists say the only way you can get your finances in better shape is to save more and spend less. Economists also say that the way to get our national economy in better shape is to have people spend more—and therefore save less. So basically, right now, we should all be spending more and saving [...]
