Bankruptcy & Foreclosures

While everyone seems to have spending on their mind this time of year, the truth of the matter is we need to pay careful attention to the economic signs all around before going overboard. Although the numbers are far from finalization, patterns are already proving that Americans are taking economic instability quite seriously this year through more conservative spending patterns.

The cost of oil influences our lives in more ways than the superficial (transportation, heating, etc.) As gasoline prices continue to climb to all-time highs, we are already witnessing spikes in the very early reaches of the holiday spending season. This pattern opposes the usual theme of flat line oil cost until much closer to the Holidays when travel is expected to increase. Experts view this as a sign of more conservative spending by consumers this year. In other words many of us are paying closer attention to our budgets and cutting out unnecessary travel either by consolidating more of our shopping into a single trip or using alternative means of shopping altogether (such as online purchasing).

Interestingly oil costs aren’t the only culprit for the collective tightening of our belts. A shaky housing market is also affecting spenders in two key ways. First the turbulent sub prime industry has many homeowners struggling to make their monthly payments on time. In these instances where consumers are barely making ends meet, it is clear that over exuberant spending simply isn’t an option. Additionally, lenders are also taking fewer chances in writing loans. This means that consumers who typically rely on tapping into their home’s equity (by refinancing) for additional spending power are out of luck as well.

I’ll be keeping close watch on these developing trends and provide updates as the numbers come in.

Well, the week is finally upon us where in addition to heaping helpings of turkey and football overload, many shoppers turn in early to prepare for the day that follows. Black Friday has been an unofficial tradition for years as an opportunity for retailers to capitalize on the fact that many Americans kick off a long weekend for Thanksgiving. Once Turkey-Day is behind us, the collective mindset of the buying public shifts gears to focus on Christmas.

What’s interesting is that another shopping tradition has been slowly gaining ground since it was introduced in 2005. They call it Cyber Monday and if you take a moment to think about it, it makes sense. The origination of this second shopper’s melee is again taken from the idea of the long Thanksgiving weekend and the spillover that must certainly accompany workers to the office on Monday morning (once reunited with their trusty computer).

What Black Friday does for the brick and mortar stores, Cyber Monday aims to do for online retailers. While still quite a young tradition, many retailers are getting in on the action. With gas prices reaching epic proportions, it is probably not a bad idea to consider alternatives to the all-day mall hopping that is so often associated with the day after Thanksgiving.

I recommend giving the official Cyber Monday site a browse as they conveniently list of all the retailers participating as well as the deals offered. Click here to give it a look.