A Major Sign of a Bad Economy

A mall absolutely jam-packed full of people actually buying stuff? I popped into my local Canadian Tire store today to take advantage of a sale on folding chairs, which I actually need as I’m having some friends over for lunch tomorrow and I don’t have enough seating. The parking lot was jammed, so I had to park out in the hinterlands. I wasn’t upset at that, as I don’t mind walking, but wow, I’ve never parked that far at this store before. Then I walked in, and it was a ZOO! I mean, people were wheeling around carts that were just stuffed with items, and I mean, like 5-8 different items, not just one big one that was too awkward to carry around. They were grabbing things off shelves like it was the end of the world. And the line-up at the cash was incredible! I managed to snag one of the self-serve scanners and was out in a jiffy, but wow, was that ever impressive.

Now I know that the economic situation isn’t as bad here in Canada as the US, but still, you’d think people would be a little more frugal given how tenuous things are, you know? A study done a few years ago (I forget exactly what year, so forgive me if this is old and out dated information) says that the average Canadian has around $8,000 worth of consumer debt each, not including any mortgages, loans, etc. So we should be trying to be as frugal as we possibly can all the time, not just now that the economy’s on a downturn. My friend M likes to call me Frugal J, because I’m all about cutting costs where I can. This is an attitude that we should all have all the time, not just when we’re trying to pay down debt or save money, you know? These last few years has really taught me that lesson, that it’s important to be frugal all the time, not just when times are tough. If you are, then you’ll be okay even when times to get tough. Take for example, my emergency fund. Working in the IT sector, I’m acutely aware of how things can change, so I want to be prepared if and when they do. Now it’s not at the level that I want it to be at, a level where I feel “comfortable” with it, but it’s a good start. Most people don’t have anything saved up at all. As I stated the other day in a previous post about my 2009 goals, I want to get that up to $5000. That’s lower than my initial goal of $7500, but I feel it’s an achievable goal in the short-term. If I can get it up higher, then that’s even better. But for starters, I need to add another $2000 next year.

So save your pennies, your loonies & toonies, and try to be more frugal this holiday season!