Pimp Your Finances

Lauren Sherman at Forbes came up with a list of 10 Things We’re Still Buying even though consumer spending is at an all time low.  Here’s my summary of her list.

1. Smart phones – new cell phones can easily become a source of entertainment, and for some it’s a business requirement
2. Video games and consoles – I really like video games.  They give me something I can do at home for extended amounts of time.  It’s really not a bad deal, especially when staying at home is cheaper than going out.
3. Gym memberships – I would’ve expected this to be one of the first things to go.  I know mine will be at the end of the month.
4. Personal Care – including “everything from shaving cream to perfume to hairspray.”
5. Toy building sets – constructor sets like Legos have been increasing in sales
6. Car maintenance – this could be a indicator that more people are planning on keeping their cars for the long term.
7. Dress casual shoes – apparently shoes that you could wear to work or out on the weekends have been increasing slightly in sales
8. Restaurants – another surprise.  The explanation is that people are looking for cheap, convenient, and quick ways to eat, and that often leads us to fast food restaurants.
9. Movies – the author says people are cutting back on going out, and movies make for a cheap night on the town.  But I say maybe people aren’t going out less – they’re just spending less when they do.
10. Netbooks – sales are up for the $300 computers that do little more than get online and process documents.  As people look to cut back on spending, they may be considering more cost effective electronics, rather than getting all the bells and whistles.

It’s interesting to see where people are spending their increasingly hard earned dollars.  I can’t help but notice that people are actually spending more money on non-essentials.  It makes me think that people are spending less, but they’re not changing their lifestyles.