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Forget that vacation to the mountains you planned. The price of just obtaining the basic necessities such as meats and groceries has taken precedence over rest and relaxation. The only benefit of your holiday time is knowing you have just saved anywhere from $20 to $100 dollars in fueling up your vehicle - depending on what type of vehicle you drive. Typically that money saved will most likely go towards paying a bill that was set aside or on the verge of becoming delinquent. Soaring fuel prices are spread across the board, from gas to home heating fuels. Piggy back that with the rise in the cost of food and has consumers becoming more frugal about what they spend their money on. Therefore retailers and super markets are taking a tremendous blow. To entice shoppers into their stores many stores are holding huge sales in the hopes of increasing their struggling profits. However, the general public is still leery in their confidence of the economy. Anticipating the rise in the cost of meats and other necessities, shoppers pinch where they are able to. And with weaker job prospects, most people are anxious about their financial future. Even if you are far removed from the national housing credit crisis, the credit crunch can still affect how you live. Rising interest rates have stymied consumers in making credit card or loan payments which in turn damages credit worthiness. The negative effect, while repairable, will still take time to get resolved. During the time it takes to bring up your credit standing you may be left with fewer choices when it comes to major and even some minor purchases. The credit crunch also hits home in the rise of general household expenses. People have become more aware of heating and cooling cost in addition to how much electricity is being used per month. Even the water usage and sewer expense has not been unaffected. People are washing their clothes less often by combining loads and there is an old adage of if its yellow let it mellow.... that people have even gotten accustomed to. All the while the cost associated
with maintaining a healthy lifestyle has made some folks turn to convenience foods
for their inexpensiveness. This creation of unhealthy eating habits carries risk
as well. From short term health issues such as weight gain to even long term effects
like diabetes. So while the housing issue may not have affected your area, has
the smaller, seemingly insignificant, costs of living have you in the credit crunch. |
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