Alpha Consumer

CBS: Cheap Is the New Black

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April 4, 2008 RSS Feed Print
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As Katie Couric reported on the CBS Evening News last night, it's now trendier to save than to splurge. Shame has been replaced with pride when it comes to getting discounts, shopping at more affordable stores, and avoiding pricier items.

Thank goodness this shift has taken place. It's exhausting to pretend to afford things we can't. And the fact is, even someone with a decent salary can find it hard or impossible to live like people do on shows like Lipstick Jungle or Cashmere Mafia. As the Budgeting Babe blogger Nicole Mladic told the news program, "When I'm actually spending more than I'm making—on clothes, rent, furniture, and stuff for my apartment— that's not right."

To watch the full report, view the video below:

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The spend now to pretend to others (especially those you do not even know) that you are important or successful is the worst curse you can give your financial freedom for the future. Invest in yourself (pay yourself first 10%) and live within your means, and the US economy would hwve less crazy volatility. Moreover, you will be very happy and less stressed if a hiccup occurs in life, as will happen. Life is reality, not a reality TV show, or a game of up(wo)manship.

Todd of FL 6:36PM April 15, 2009

Personally, I can't stand the non-stop consumerism of our culture. I'm glad to hear that people are reconsidering what's actually important and deciding to live within their means.

DC_Dude of 6:19PM April 04, 2008

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about making smarter financial decisions. She’s the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back.

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