With all the news about a possible US economic recession, are you curbing your spending?

There is so much coverage in the press lately about a potential US economic recession. Some days we hear that its definitely happening and other days economists seem to think things might be ok. It certainly paints an uncertain outlook.

With all of this discussion of a potential economic recession in the US, how is the news impacting your personal spending? Are you thinking twice about ordering that Venti Chai Latte at Starbucks? Or perhaps, you're not going to take that planned family vacation this summer? We're want to know what you think.

Yes (61.1%)

No (13.8%)

Not yet but, I might in the near future (25.3%)

With all the news about a possible US economic recession, are you curbing your spending?
  • fanniemae By fanniemae
    on Mar 11, 2008  

    I'm on a fixed income so I definitely have to curb my spending. Prices of gasoline and food products are getting so high now; you almost can't afford to get them.

  • coloradowaterbaby By coloradowaterbaby
    on Mar 11, 2008  

    I have always been a wise spender/saver, now really isn't any different. We try to live on the cash only system and not use any debt. Our society believes that everyone has to have the same oppurtunities as everyone else so they lend out credit as if it were water. That is what has led us down the path we are currently on. If you can't afford the payments on a $450,000 house, you shouldn't buy one. I agree that the price of fuel is ridiculus and I wish the goverment would spend more time trying to ease that issue instead of bailing people out of the mortgage issue. The price of fuel and corn for that matter, effect the price of almost everything else out there. Find a way to lower the price of fuel and the price of milk, eggs and bread will go down as well.

  • Christylee711 By Christylee711
    on Mar 12, 2008  

    I think everyone should be concerned. My husband lost his job in July and was out of work until November. We have 5 beautiful children and have since lost our home. We had an ARM and the payment got so high that we could not afford it any longer. I feel for anyone who loses anything they have worked so hard for. I have always been good with money, but when it isn't there ... it isn't there. Everything happens for a reason, and life is grand now!

  • gemtwin By gemtwin
    on Mar 12, 2008  

    I have been trying to cut back on groceries, but still trying to eat healthy. It's all most impossible with the price of produce and organics though.

  • sheilagirl By sheilagirl
    on Mar 13, 2008  

    The cost of gas is killing me I have to drive 90 miles a day just to attend school, so I end up spending a small fortune just to get there. I just try to cut back in other places, but it's really hard sometimes. It would be really nice if we got a cost of gas increase in our paychecks. JK!

  • clto1 By clto1
    on Mar 13, 2008  

    I am a single mother of 2, and a full time student. I am not eligible for any types of financial assistance from the government because my live in partner has income, even though it is quite low. It aggravates me to see foreigners come to our country and recieve so much financial aid from our government with no income verifications. I was once told before i started back to school, when applying for financial help from the government, that because I had a job (making min. wage) and because i was a us citizen that I do not qualify for any help. At the same time, there were 26 foreigners in the state office where i was applying, being approved for healthcare insurance, food stamps and welfare checks. I am a double minority because i am a woman, and because i have a felony conviction on my record, so it has been difficult for me to secure employment, which makes it hard to pay my bills. I am 31 years old, and moving back home with my mom after 13 years of being on my own because i can't afford to feed my children on my own. i had to sell my car to pay my rent one month, and now have to travel by public transportation (which is cheaper because of the rising gas prices) which is an inconvenience when you have an emergency in the middle of the night. i eat 1 meal a day, just to make sure my kids get 3 a day. I have major health problems that i must ignore because i have to make sure i have money for my childrens lunches and dinners. it is a sad day we are living in and it isn't going to get any better. the saddest thing is that it only gets worse, and the us government wont do anything to help its own citizens. My gas service was disconnected last week, and it was about 10 degrees outside and dropping a good 2 inches of snow an hour on the ground (we ended up with 12 inches of snow) and i had to leave my house in the middle of the night with my children in tow, walking, to get somewhere with heat because we were so cold. i am praying about my own and everyone elses crisis, and we all have to trust in GOD, not our governments to help. CT

  • tsutsuna0919 By tsutsuna0919
    on Mar 13, 2008  

    I don't think my curbing is intentional, most of it comes from trying to drive less due to high cost of gasoline.

  • mosdata By mosdata
    on Mar 13, 2008  

    I'm not curbing because they say a recession seems to be coming (I say it's been here now for a few years, but that's another subject). I have to curb my spending because we don't have public transportation where we live & gas prices are throught the roof!