Consumers Still Behaving as if Economy is Not Recovering
The economy may not technically be in a recession, but research shows consumers are still acting as if we are in one. People are still cutting back on spending. Today reports that recent Harris polls suggest consumers are still taking actions like purchasing more generic brands and going to the hairdresser less frequently. They are also cutting expenses like buying a cup of coffee in the morning from a cafe, which is bad news for companies like Starbucks.
Today Show financial editor Jean Chatzky suggests a couple other places to cut, such as your cable bill or at the health club. Take a look:
