While a lot of people are still deeply impacted by the recession, a number of post-recession articles are starting to emerge, including one from US News & World Report that suggested 10 ways to “thrive” after the recession. It described the new “evolved consumer” who “shops with more discipline and focuses on buying products with lasting value rather than just accumulating stuff.” The article cited a National Foundation for Credit Counseling survey in which about half of people who have reduced their spending because of the recession say they will not go back to their previous spending levels even when their financial situation improves.
The optimist in me would like to believe that the recession will lead to lasting positive changes in how people use money. However, a recent article dampened my optimism. It noted that sales of gas-hogging SUVs are already beginning to rebound.
I do think one of the great opportunities of the recession is to rethink many of our money assumptions. Do we really “need” the number of cars that each household owns? Are there more cost-effective ways to take vacations that might be just as fun? What money-related changes have that you believe will be permanent?