GLOBAL RECESSION and BUYING PATTERN

@cupid74 (11394)
Pakistan
February 3, 2009 4:20am CST
Hi friends Just a Serious Discussion Now a days its hue and cry of GLOBAL RECESSION all over the world. Almost every country is laying off jobs instead of creating new job, Inflation is Up, Mortgage industry is at verge of Destruction, Economy is not stable, So my Question is Is ur buying pattern is still same or it has been effected and u have priortised the item as what to buy and what to postpone? Take care
6 people like this
17 responses
@Roseo8 (2947)
• India
4 Feb 09
Well fortunately all this hue and cry over gobal recession and falling economy has not had a direct impact on my every day life........Its mostly because I am not a working woman ,and also because my husband is not working in the private sector which is bearing the brunt of the crisis.....In fact I am relieved that things have slowed down a bit and people ,especially youngsters will learn a lesson from this recession and learn to save money for a rainy day instead of splurging all their savings and also relying on loans to keep up their high profile life style......
1 person likes this
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Rose08 Well u r amongst the lucky one and thats great u know Rose08, problem is not for people who are salaried or have permanent job just think about people who work on daily wages or hourly wages. they dont hsave saving and if they dont get work, what will they earn Its important to get work for them so their cycle keep on going Take care
2 people like this
@Roseo8 (2947)
• India
4 Feb 09
well Cupid...you are wrong..Its not the daily wage earners who are most hit by the recession.It is the salaried people who had a cosy life and who suddenly find themselves out of their jobe who are badly hit......This has been a rude awakening for them,and many are still finding it hard to adjust to this sudden change......
@cupid74 (11394)
• Pakistan
6 Feb 09
Hmmmmm i do agrere with u, but they might have some saving, some provident fund, some insurance and etc, but people who have to work on daily basis to earn their living, what they will do as factories have no work and shutting down Anyway hope for best dear
1 person likes this
@apsara60 (6612)
• Israel
3 Feb 09
hi cupid....... even if I want to spend on comforts and luxuries, I will not be able to do so in this costly country where salary is in shekels while costs are in dollars.... the taxes and bills leave me with budget that enables me to concentrate only on basic necessities of life and that is what we do....buy only what we can effort and forget about the rest.. Now to add to that we have this economy crisis, which is threat to jobs.........nothing is certain, no planning, no future.....just live for the sake of living!!!!!!
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Apsara thanks for ur resoponse and trust me that u r not alone in this scenairo, i would say , almost 50% of world is doing that and 48% world is even in worse position than this while only 1-2% might be enjoying that luxurious life that suxch crises donr effect them and distrub them. and u r right, nothing is certain nowadays so just live every day as it come, No Worries, Try to squeeze what u get out of life Take care aps
1 person likes this
@apsara60 (6612)
• Israel
5 Feb 09
. Yes lets live today and forget both yesterday and tomorrow....
1 person likes this
@Roseo8 (2947)
• India
5 Feb 09
well Aps dear..have faith ..... Remember there is a siver lining in everything that happens , and in every person too. Challenge yourself with finding it, and you will start to see LIFE in a new light..... Be optimistic always and never give up hope.....
1 person likes this
@mimpi1911 (25479)
• India
3 Feb 09
This is good question and thanks for raising this for I haven't really thought like that as of now. all my finance is handled by my father, who is an excellent fund manager. May be he has had re oriented his plans and schemes, I am not sure. But as for myself, I hardly find myself changing my life style and prioritising on the buying list. I am still the same old person, with rational needs and buys. I a not extravagant except for items but that extravagant spree comes very rarely and when I can afford to. But, I think, I must cut down on my expenses a bit and be judicious and wise with money. Thanks for the reminder.
@cupid74 (11394)
• Pakistan
3 Feb 09
Hi Mou thats nice and its understandable that u have not changed as u already gave ur savings to ur father and i am sure he might be handling it well. same is case with me. But sure yr 2009 and 2010, u need to be careful and control ur spending, not cause u might kloose job but cause u can help others with ur saving. just control ur avoidable expenses Take care stay happy Bye
@mimpi1911 (25479)
• India
3 Feb 09
I spend a lot on garments, shoes and accessories if not cosmetics. So I must reduce on that. I do not want to cut down on garments because I do not want my friend to suffer the consequences for that....
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Mou Hope u must be doing well Thanks for ur concern about ur friend and i really appreciate that i was not saying that u stop making expenses, but just be a wise Buyer Take care
@JenInTN (27564)
• United States
4 Feb 09
I have yet to be effected but I become more cautious everyday. I am now gathering enough money to live without work for 6 months. I don't think I will get layed off but if I do I want to be prepared. No one is immune to this recession. I have been at my job for some time now and I figure I will be one of the last to go and the first to come back. These thoughts have taken a toll on my spending. I will not be going on vacation this year if things are not better and I am cutting out some of the extras like eating out. I hate it because I do love shopping and eating out on occasion. I am hoping things start to look up soon because there are a lot of people in worse shape than I ever thought about being in. Take care.
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Jen thanks for ur response and sure Glad to know that u are not efected by it, we wish and pray that u dont get effected by it in future tooo. B ut sure really appreciate that u r sensing the situation and making arrangements accodingly, its saying " Hope for best and Prepare for Worst". and yeah u r right their are lot of other people who are hit hard by this recession, hope things will be going towards betterment Take care
@JenInTN (27564)
• United States
4 Feb 09
That's my motto cupid. It has served me well. You are very welcome and I'll talk to you later.
@cupid74 (11394)
• Pakistan
6 Feb 09
Thats nice and sure i will waut for u to talk till then have nice time, take care
• Singapore
4 Feb 09
I have cut down on my spendings, that's for sure. Like for instance, I usually go out for lunch everyday when I'm working, nowadays I got used to packing my lunch, and snack to save a bit of money. My mobile contract is also up for a new one, and with a new contract comes a new handphone. I guess I won't be upgrading my handphone real soon, in fact I'm thinking of cutting my plan and just use prepaid, so I won't have any monthly bills.
@cupid74 (11394)
• Pakistan
6 Feb 09
Hi Bradyy , thanks for ur response i am sure packing lunch , not only save u money but sure save ur health too. and u r right, little savings end up in big saving Wish u all the Best
@Sreekala (23757)
• India
4 Feb 09
Hi Cupid, It is shocking news to know many will lose their job in future especially those who are working on daily wages. Exporting industry is also affected and many firms already running out of business. Personally it is not affected us upto this time. I don’t know what will happen in future because my hubby is working on the same sector. Let us hope for the best.
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Sree sure hope for the best i was just reading New that about 20 Millions people who went to china for job lost their jobs due to current finanicial crisis. Just imagine the number, its so bog and they were from neighboring countries so it will be adversly effecting them. Sad Sure hope that u wont have to face it and things will start better Take care
@us2owls (1681)
• United States
4 Feb 09
I am kind of caught between the rock & the hard place. My home is the USA - my husbands is in the UK where I am at present. We are working on getting him a residents visa so we can both stay permanently in th USA. Each day here in the UK it seems like prices in the grocery store go up and I am of the opinion that the quality of the food here is poor compared to ours in the USA where the prices have gone up too. We are both retired so there is no making extra money for us other than the little I make on here. We are at present fighting the worst winter in 18 or more years and from the forecasts it is not over yet. Older people here are having to make the choice between eating and staying warm because what they get is not adequate to give them what they need of both. I have been reading details of the stimulus package being tossed around the House and Senate in the USA and from the things I have read it appears to be a pork barrell of waste. Why do Movir Producers need a tax break. We can't afford to go to the movies anyway. Our congress and Senate need to get their heads out of the sand. Reduce the amount they spend and give more of it to those that need it - the lower ncome tax paying public.
@cupid74 (11394)
• Pakistan
4 Feb 09
Oh dear Thanks for response and u r rights, UK is facing really Cold weather. My younger brother is in New Castle, and i know what exactly is going on there. And u said right, right now u need to have HEATING system to face this brutal weather. Why ur hubby is not getting Resident visa if he is British, he can go and stay there work there? isnt it??? I wish and hope that things goes towards beterment, weather get better tooo and ur other problems get solved as well Take care
@aerous (13474)
• Philippines
4 Feb 09
my buying pattern is the same, there is no changes at all.i think financial crisis will be the game of the game of the business man. they are the one who make the world change, and i think they are the one make it worse. if they are not greedy enough, there is no global financial crisis. they buy everything because of their luxury. if they fell that, they cannot make money enough crisis will ended because they make changes again. i hope crisis will soon be recover...take care
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi aerous thanks for ur response and welcome u at mylot and i do agree with ur observation, its quite true one, Few Big players are playing the game and making life miserable for common people hope things will improve Take care
• China
4 Feb 09
Hi cupid. Yeah, I am saving money now and I just try my best to spend less. But it's not really becasue of the economy crisis. I guess I've spent too much @2008 and now my parents' need to decorate their house and that's the reason. I want to show a little support, heehee. Right, I am postponing to buy one item and that's a lot to do with the recession. Actually together with bf, we have planed to buy our own house at the begining of this year but now as we can all see that the house price is falling and we'll have to wait, just in case we buy it at a price much too high. Bf's year-end bonus was cancelled by his boss!! He is pretty upset as he worked so hard and he complained that the corps are just using the recession as an excuse since they achieved the target. Anyway, business of our company is fine, actually busier than before but under this big circumstance, it's also trying to cost down. Chances of getting salary rise seem slim. Save save and save!
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Densie thanks for response thats nice to hear that u trying to support ur family for House Renovation, Kool but sad to hear about ur bF annual bonus, and slim chances to get raise. but its truth that all over situation is same. whats business of ur company which is getting better, thats great, isnt it Take care
@jess368 (3368)
• United States
4 Feb 09
Hey Cupid! I am almost embarrassed to say that my spending habits have not changed all that much. I still have two jobs, so I am able to keep up with all of my bills as well as go out for dinner once or twice a week. I actually just took a week long cruise with my boyfriend. It might have been smart to save that money, but we felt like we deserved a vacation. I think the benefit of having two secure jobs is that I can still spend money as I am accustomed. Also, I have never been a frivolous buyer, so I am not missing out on much anyways.
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Jess dont be feel embrassed, if u have secure job, ample money then u should use it and sure vacations are important to refresh u foer hectic daily life Take care and stay happy bye
1 person likes this
• United States
3 Feb 09
Its terrible whats happening in the world ecomomy. Hopefully this ends soon, and we can go back to being prosperous. Anyway, to answer your question, we started proitizing things about 8 months ago. And we changed our buiying patterns drastically. Its a shame, we used to spend so much money on nonimportant things. we stopped that and were able to save a lot of money. its amazing how cutting out things like expnsive clothes and makeup and jewelry and even simple things like expensive shampoo and soap can effect ones budget. We changed all our shopping habits and our now buying sensible so it has saved us a lot of money.
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Juveriam786 thanks for ur response Sure hope it will end soon, but still to recover it will take 3-4 yrs now only if every body really work for it and some Mean Big Business tycoon dont create artificial shortage as ther are doing since last 1-2 yrs. Its nice to know that u start shopping sensibly and also realize the differnce, i am sure it will help u in future even after recession is Over take care
• United States
3 Feb 09
of course i dont spend as much as i use to 2 years ago i used to buy whatever w/ out worries of not having enough but now i make sure everything i buy is a necessity
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Xeneize Thanks for ur response and welcome u onboard at Mylot. yeah since last yrs things are changing drastically, First Gas prices and now Recession Wish u all the best dear Take care
@gracie04 (4554)
• Philippines
3 Feb 09
Since i've moved out from my parents house and had my own place, i have learned how to be a smart shopper.. i just buy things that are important such as food, medicines, groceries and other things that i really need.. you know what, i used to be an impulsive buyer and i tend to buy unneccessary things(designer clothes, shoes, bags).. yay!
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Gracie Hope u must be doing well Wish u all the best foe New Venture and trust me its always good to be smart shopper ( unfortunately i am not). LOL Designer clothes, shoes , bag, i am sure its can be avoided as its really Expensive Wish u all the best Take care
@mayhem23 (185)
• Canada
3 Feb 09
I haven't been directly affected by the recession but I know it will impact certain aspects of my life indirectly. My buying pattern hasn't changed a lot since the recession. My Christmas expenditures were the same or even more than previous years because of the big sales. As a business student, I understand the implications of the recession and where we are heading. I am starting to save a little more than usual but nothing drastic.
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi mayhem Thanks fot Response and sure welcome u at mylot as u seems New at Mylot. thats good that this recession has not effected directly and ur buying pattern is same i think student buying Pattern dont change much till he/she is in Profeeesional life Hows ur studies going Take care
@checapricorn (16066)
• United States
3 Feb 09
H[i]i cupid, In our case, I am telling my hubby that we have to lessen our outdoor activities like eating out etc! I started also to make some list before we will go to the store for food shopping and it helps us a lot. Unlike before, we tend to grab stuff which we really don't need for the moment! We are planning what to get for this pay day and so on and so forth, we don't get them all at once at least, we can also make some savings! I am even looking for job at least to help with our expenses and bills![/i]
@cupid74 (11394)
• Pakistan
4 Feb 09
Hi Checa thanks for ur response and really wise move as u r becomg a Wise buyer now instead of Impulse buyer wish u all the best Take care
@mayka123 (11050)
• India
3 Feb 09
The global recession has indeed made a very great impact on all of us. Here in our city too many are loosing their jobs. There is a lot of cost cutting both in offices as well as in our homes. Priorities have indeed changed now because we do not know how long our jobs will last. We have to now first think of our savings and then of our expenses.
@cupid74 (11394)
• Pakistan
3 Feb 09
Hi Mayka yeah u r very right, the countries who are depending on exports to USA and EU countries are hitted hard as demand is low , Sales are poor, hence no new orders. And its effecting smaller units as well as Big one too, Lets hope for best Take care
@ellie333 (21029)
3 Feb 09
Hi Cupid, I personally have only been buying necessities and am putting slightly more into my savings account in case of emergency. Here in the UK there have also been many reduncies etc but here in the West Country where I live it is a lot slower to take effect but it will also take the West Country longer to get out of once it does hit going from previous patterns. No job is secure however much we all like to think ours is and I really feel for all the people that are struggling right now having lost their jobs. I haven't a mortgage so that side of things doesn't affect me either but so many people are losing their homes which is very sad. Roof, food, heat are my essentials anything else can wait. Huggles. Ellie :D