So, the economy is in free fall and we’re all doomed. Right?
The quallies at work have been doing a lot of focus groups with Credit Crunched Mums recently. Apparently yes, Mums are being careful and trying to be more frugal – but a lot of them are doing so not because they are very worried about their finances right now, but because they think things are going to get worse before they get better.
I think we might be talking ourselves into making the economic situation worse. The media isn’t exactly helping, a quick dig round nexis revealed dozens of recent case study stories about families who were cutting back and lots of first-person pieces by jounros describing how they were economising madly, but nothing suggesting that just maybe, a few people were actually carrying on pretty much as normal.
It’s admirable if someone decides to live more frugally now in order to try and safeguard their immediate future. But with every scare-monger story the media puts out, perhaps it has got to a point where people are taking more severe steps then they really need to, in turn bringing about the next step of the downturn they were trying to protect themselves against in the first place…