Are You Frugal? Have you changed your behavior?
The recession changed us. So much of what we built financially over the previous decade was erased in just a couple of weeks. IRA’s values were cut in half. Jobs were lost. Housing values were pummeled and continue to struggle mightily. Banks stopped lending and getting credit has become difficult to obtain. Our global economy continues to pose significant challenges and our nations debt now exceeds $15 trillion dollars. A huge number.
Even though our government continues to pile on the debt, the American consumer has modified their behavior considerably. Here are some awesome stats:
- In 2010, we redeemed 3.3 billion coupons and saved $3.7 billion
- Coupon usage has increase by 20% over the last 5 years
- 30,000 daily deals are available on over 650 sites everyday
- 1 in 6 Americans use daily deal sites regularly
- Groupon and Living Social have 125MM subscribers
- We drove over 3 trillion miles in 2010, less than we did in 2006
- 44% more Americans shop at bulk grocery stores
- 75% of grocery shoppers now use grocery lists to keep track of spending versus 45% in 2008
- Savings rates are 4 times higher than 2005
- Even if they won the lottery, 96% of people questioned would still use coupons
The infographics that include these statistics can be found at:
Americans have modified their behavior considerably based on the reality of our times. Maybe our government will learn something from the people that elect them.
R U Fru? BFRU?
Enjoy the weekend.