Monday, March 19, 2012

How are different generations reacting and responding the Great Recession?


Not by shopping. Frivolous buying is over. Being cautious when you shop and get the best bargain is the key. Avoid the temptation to spend money. Go to the library rather than buy books. Retrain children to a different style of living.

Everything is cyclical. The next generation is learning how to do more with less. Doing your hair or nails is being delayed. People wait longer to spend money. Spending on services is declining so all are suffering.

Economic recovery is short-term. Younger generations are changing. Our parents were raised with a post-Great Depression mindset. Our generation lived with significant disposable income. Now, our children have no jobs. They struggle financially and move back home after college. They have different needs and don’t want to work as hard as we did. The Baby Boomer generation is the most productive generations from a “work hard” perspective yet we’re victims of age discrimination. 

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