Our tattered economy has a lot of people feeling fearful, angry, and surprisingly, okay. These mixed findings come from a new survey by CNN and Opinion Research Corporation, which found that nearly 75 percent of U.S. adults are scared about the way things are going in our country. About the same number are angry. Those results are understandable. However, 75 percent of respondents also said things are going well for them personally. One other hopeful indicator coming out of the survey is that fewer people say things are going "very badly" in our country. Some 32 percent of people feel that way compared with 40 percent just a couple of months ago.
Matt's View
It's encouraging to hear how many people say things are going well for them personally in the midst of so much bad economic news. Perhaps we're becoming a bit less shell shocked at all of the negative news. And maybe we're learning to be grateful for that which we once took for granted. I know that's true in my own life. As we say simple prayers with our young children each night--prayers of thanks for our family, friends, and food--I've been taking those prayers to heart in a new way. What about you? Have you found yourself feeling more thankful for the simple things?
For another optimistic perspective on our economy, read this excellent post
by personal finance writer Mary Hunt.
Lots of businesses are hurting right now, but not those involved in fixing and mending our stuff. According to an article in Time magazine, cobblers and tailors are thriving as people opt to repair old shoes and alter ill-fitting clothes rather than replace them. The same is true for shops that repair everything from cars to CD players.
Matt's View
In Aldous Huxley's 1932 novel "Brave New World," a futuristic look at consumerism run amok, people were conditioned to believe that ending was better than mending--in other words, it was better to toss out something that was broken or torn and replace it with something new rather than repair the item. It took a long time, but that book is finally sounding a bit dated.
While numerous retail chains are closing stores or putting expansion plans on hold, second hand shop sales are booming. A Chicago Tribune article explained that the recession has turned fashionistas into frugalistas. Goodwill, whose sales of donated items help fund job training for homeless and disabled people, is working hard to capitalize on the trend toward frugality, with improved merchandising and a billboard ad campaign. The organization also has a special web site
highlighting amazing deals people have found at its stores, offering fashion advice, promoting a frequent shopper program, and more. Did you know that Goodwill even runs an online auction site
?
Matt's View
Surging sales in second hand stores has created a need for more donated items. To that end, Goodwill is running a promotion from March 2nd through 8th whereby shoppers bringing "gently used" pants to Ann Taylor LOFT will receive $15 off each purchase of full-priced pants. Salvation Army is running a similar promotion, in which shoppers bringing gently used clothing to Stein Mart between March 5th and 7th may receive up to four coupons good for 20 percent off any one item.
What makes you happier--new stuff or enjoyable experiences? CNN reported on new research showing that for most people enjoyable experiences generate more lasting happiness than new stuff. Two key reasons are that experiences tend to involve other people and they're better than material objects at generating feelings of vitality or "being alive."
Matt's View
I couldn't agree more. I regularly relive vacations I've taken with family or friends, and they continue to provide much satisfaction. What about you? What gives you the greatest happiness - experiences or stuff?
By the way, several of you wrote in response to my question about how the economy would impact your Valentine's Day celebration this year, and it seems that love is recession-proof. Nicole said she would spend as much on her husband as she has in the past because "investing in our marriage is a priority for us." John said he and his wife would be at the symphony on Valentine's Day, but that's only because their season tickets happened to include a Valentine's Day performance. He said they try to celebrate their marriage every day--that setting aside just one special day for romance would shortchange their relationship. Their key to a happy marriage? Praying together every day, an invaluable activity that doesn't cost a dime.
