Prime Rate Credit

Apparently this recession isn’t just hitting the likes of regular schmoes (like me), but it’s also starting to show it’s effects on the upper crust rich portion of our population also. So called luxury goods are suffering a bit, and it’s been noted that the rich are now “bargain shopping” more, and are also scaling back on investing agressively, all of which points to the fact that they are feeling the economic squeeze that all the rest of America is feeling at the moment, even those that normally don’t bat an eye at 100 dollar fillups and other such expenses.

It’s not necessarily that the rich class is hurting for money, it’s just following the behavior that everyone is expected to during times of economic slowdown, and the upper class is not immune to following the herd during downturns either, just like you and aren’t immune to watching our pocket books either when it seems like the US is having a hard time in multiple economical areas, such as gas prices, energy prices, food prices, and the horrid housing market.

I know there are ways that I have cut back, and I would consider myself to be middle class to upper middle class, and I can afford the gas, energy and food prices, but I still have to consider that the extra money I am spending on these cost increases is money that I could have done something else constructive with, like invest or purchase things that go up in value, or put money (equity) into my mortgage. All that extra money I could have invested essentially in myself is now going to the things that I need to buy just to get by, so to speak.

I’ve tried to only go shopping at a store where I get ten cents off a gallon of gas for every fifty dollars I spend for one thing, this helps offset the cost of high gas prices. I also only buy clothing that is on sale, and have taken to shopping more at second hand clothing stores where I may have purchased more clothes at retail stores.

I’ve also cut back on things that aren’t necessary, like paper plates, instead we use regular plates, also we’ve cut down on making too much coffee and wasting half of it in the morning, and make sure we don’t waste any food now. There are ways in which all of us have cut back, it just depends on where your priorities lie I suppose.