Spending and Saving

What Are We Still Spending On?

The downturn has forced everyone to give something up, whether frivolous or substantial.

Sacrfice isn’t necessarily bad. When we’re forced to make choices, we end up reflecting on what’s most important to us and why. We may relinquish unhealthy things: I have one friend who’s not smoking anymore. And when I asked one fashionable man what he was giving up in the recession, he though for a moment, then said, “Complaining.”

Here at Recessionwire, we’ve done Recession Concessions, an occasional series about what people are giving up—and what they’re insisting on keeping. One woman has been indulging in Starbucks even as everything else goes out the door. For me, it was the cleaning lady (HBO, dry cleaning and clothes got the ax). Now ShopDebtFree.com, a debt-free (i.e., cash-only) shopping mall, has released a consumer survey on on what people are still spending on, even as the downturn has forced them to cut back. This isn’t about rent or health care, but the less necessary expenses. Turns out, massages are out, but pets are in. Almost half of the 1,200 respondents are still going to restaurants, and 33 percent are still traveling. But that’s just a sign of how much we’ve all pared back–it means 67 percent are not.

1. Dining Out (48 percent still spending)
2. Travel (33 percent)
3. Apparel, Clothes (32 percent)
4. Pet Care (23 percent)
5. Concert or Movie Tickets (22 percent)
6. Cosmetics, Hair Treatments (20 percent)
7. New Music or DVDs (19 percent)
8. Toys, Hobbies, Video Games (18 percent)
9. Electronics (18 percent)
10. Gym Membership (16 percent)
11. Automotive or Car Parts (15 percent)
12. Sporting Events, Sporting Goods (12 percent)
13. Going out to bars or clubs (12 percent)
14. Home Appliances or Furniture (10 percent)
15. Home Hardware (8 percent)
16. Massages or Other Personal Care (7 percent)
17. Other (7 percent)

Source: ShopDebtFree.com

Tags: Recession Concesssions, shopping, spending