One perk of the shrinking economy — everything else is shrinking, too

photo by Mr G’s Travels

As the stock market crumbles and the job market shrinks, it’s easy to see the negatives of the troubled economy. After all, they’re right in front of us every day on the news, in our friends’ and neighbors’ struggles, and in our own homes.

Despite all of this, I can see one upside — America’s obsession with bigger and better seems to be waning out of necessity.

We’re all looking for ways to downsize:

  • Smaller houses are becoming the new trend instead of huge homes that cost a fortune to buy and maintain.
  • Though gas prices have sharply decreased in the past month or so, we’re still driving less.

I hate that more people are struggling with job loss and home foreclosures, but I love to see people spending smarter, conserving resources, owing less and saving more.

Though I know that these trends correlate with the struggling economy, I hope that newly frugal people will take away some valuable lessons from their new frugal habits. Though unnecessary spending will most likely surge again when the economy bounces back, I hope the memory of these uncertain times motivates people to at least save more and live within their means — even if they are spending more than now.

2 thoughts on “One perk of the shrinking economy — everything else is shrinking, too

  1. Bruce > The Big Desk

    Great observations. We just did a little piece on new cars as well. Usually good lessons can be learned from harder times, unfortunately in the end the greed always creeps back. I know my family will be downsizing and our next car will be the first one I buy where fuel efficiency is a primary factor.

    Bruce > The Big Desk’s last blog post..The US Needs a New Car Company

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