Economists, strategists and many analysts are having their input on what the recession’s effect will have on people’s spending and saving, retirement plans and on their love lives.
“The economic recession has not only crippled the savings of many, but it is also straining their marriages or relationships.
According to a new global survey commissioned by ING DIRECT, 23% of Canadians and 40%of Americans say the recession will cause them to retire later, with 34% thinking they will have to work for at least 10 more years than originally planned. Also, nearly three in ten (29%) say the recession has “added stress to,” “strained” or “ruined” their marriage/relationship.
While food is the last thing people are willing to sacrifice, Canadians and Americans also put a premium on their cars and their pets.
Forty-six percent of those surveyed said they are avoiding credit card purchases to save money.
People are also cooking at home and bringing their lunch to work in order to save money, with Americans (51%), Canadians (44%).
Many surveyed also said that having a financial buffer in case of an emergency is their most important savings goal.”
Source: ING DIRECT USA, Recession Strains Americans’ Love Lives and Finances
By Paul Menchaca, July 27, 2009
Saverio Manzo
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