Are we permanently changed by the recession?

[CheerfulYank]

I thought this article was really interesting, especially the term "forever frugal" . I know it's written about us (Americans, I mean), but things are tough all over, eh?

I know my older relatives who lived through the Depression never felt comfortable spending large amounts of money again...do you think we'll be the same way?

[Littleredant]

My grandmother was widowed in late 1920's Ireland with 5 children to support. Not a time of great economic prosperity and consumer joy. I've inherited my own mother's thrifty ways and have never lived up to, let alone above, my means. This is helping now I'm unemployed, and we're coping on a wage which just about meets minimum income standards for a family of 3. I fully expect to continue to be 'forever frugal' and am hoping that my daughter will learn to appreciate the values of hard work, saving and cautious borrowing.

[FearfulYank]

We never had much money so I've always been fairly careful with it, but I remember being amused by my great-grandmother's thriftiness.

Now I wish I had half her sense!

[oksonowwhat]

I used to be pretty useless with money i suppose. If i had it i spent it. I can also remember, when i was first married, going shopping and just not knowing what to buy as i had everything i wanted (not talking about big items here!)

How times change!! I haven't been shopping (except supermarket) since last December! I just don't have the money.

I will never again waste money on frivilous items. I also plan our meals and spend ages looking for the cheapest deals on everything.

I constantly clear the house looking for items to ebay/bootsale, i used to be far to lazy to do that!

Yes, i think my attitude has totally changed, and i'm pleased about that.

[margerykemp]

There are still plenty of people with more money than sense.

[FearfulYank]

Yes Ok ! I'm the same now.

I feel like my future grandchildren are going to be shaking their heads at me. :)

[serin]

Yes, I have changed, when I think of all the money I wasted on unimportant things like rare plants for the garden, (long since dead!) gifts and cut flowers for the house, I feel ill.

What I could do with that money now.

[FunnysInTheGarden]

I was until I got another job and now find that old Clarins/Cashmere/M&SFoodhall habits die hard, despite my best efforts...........

When you have to economise it's very easy, when you don't it's also very easy to spend the extra cash.

[stressheaderic]

Me 5 years ago: numerous forgotten direct debits to gym etc, expensive powerful car, wardrobe full of up to the minute fashion, convenience food every night.
Me now: every penny watched and accounted for. Ebay and charity shop queen. Old banger.

Much happier for it though, especially when I get pleasure from small things like having got a great bargain.
Going back to full time next year and hopefully should have much more money but think my (non) spending habits will stay the same.

[Joolyjoolyjoo]

I get a buzz out of being thrifty. Years ago, we had credit card debts, car loans, other loans, the lot. We were fortunate in that the housing market was on the up then, so when we sold we had a fair bit of equity that we could use to say goodbye to debt, and we have been living within our means ever since. I prioritise decent food, as our 3 dcs are growing and I want them to eat well. Obviously bills have to be paid. The rest is just stuff. We now have 2 older cars, owned outright, and I meal plan and budget. I actually take pleasure in making it work. I've started a business, and things are promising. Maybe in a few years we will have extra cash to spare. But i don't think we will ever go back to living in any way extravagantly.

My dad was made redundant at 40. My parents had always been spenders (but never really debtors), and were suddenly shocked by their lack of savings. When dad eventually got a new job they started saving, and investing their savings. Dad is now comfortable (mum has sadly died) but still shops around, and saves money where he can. He has a healthy attitude to money, in that he doesn't not buy something he wants that he can afford (eg holidays) but he likes the security of having money behind him. I like his attitude and hope I have adopted it.

[Fuzzywuzzywozabear]

Me and my husband were together in the last recession and we haven't really changed our spending habits. At least we know we got thru it the last time so we'll do it again. Only difference, we now have 4 children...

[medicmommy]

Different yes. But it's hard to just stop completely. I watch what I spend now - we have a budget on spread sheet but the difference is that we actually look at it now and make sure we are not over spending.
We've cut down on many things, although affordable we just don't feel we need SKYTV, expensive mobile phone bills (I only spend £5 a month or less), recently shopped around for cheaper broadband, also decided against getting a new/ bigger car - our car works perfectly and has never given us problems.

So maybe we are permanently changed. Although I still buy food from waitrose and m+s but will sometimes go to the local farmer's shop. We live within our means, although there's always an urge to buy buy buy.

[oohlaalaa]

Yes, it's changed my attitude to money (having none).

[LaurieFairyCake]

I still spend every penny I have every month and I don't use credit.

I just have a lot less for my money, we eat less well, I dress less well, I fill the car twice and never just jump in it.

[susiedaisy]

Have always been fairly thrifty still Luke the odd treat but always ready to haggle to get the best deal much to the embarrassment of anyone who's with me at the timealso haggle on phone with insurances etc you'd be surprised what money off you can get if you stand firm

[susiedaisy]

Still like the odd treat!

[3point14]

I am changed forever, absolutely. I'll never buy an expensive suit again nor even expensive clothes and I'll reject things if the price is too high and take a chance in the sales.

I worked out by planning ahead, buying simple stuff like shower gel, toilet rolls, kitchen towel, toothpaste, all manner of such items, I now buy in huge bulk and my average price is less than half the normal retail. That will never change.

I love the bank balance going up as fast as possible and I've never spent less as a percentage of my income.

[CheerfulYank]

I forgot I started this thread! :)

I am forever changed too, I think. And proud of it. It makes me think about what is truly important and what is just "stuff" that we can do without.

[CogitoErgoSometimes]

You don't have to go back to the Depression. I've lived through the high inflation seventies (albeit as a kid), the redundancies of the eighties, the massive interest rates and negative equity of the nineties ... so by the time this recession came around I was well-prepared. I feel sorry for people who are in their 20's or early 30's at the moment, who hadn't experienced a downturn before and believed all the 'buy now pay later' 'things can only get better' hype of the last 10-15 years.

[GrendelsMum]

Well, I'd agree with Cogito - I'm only mid 30s, but I remember the 80s, the redundancies, the strikes, the high interest rates, how tight money was... I'd say that, if anything, having money to spend has been a nice luxury for a while, and that I now feel we're back to 'normal' again.