Hey, Big Spender...Or Not?

Hey, Big Spender...Or Not?

Grace Shu
Sep 22, 2008

Gregory's mythical Black AMEX: It's real, and it's fabulous! (Just kidding).
MSN Money posted an interesting article over the weekend reflecting on our current economic crisis and how its affecting Americans and our reputation for being spendaholics. Apparently, the silver lining to the stock market crashing and lack of jobs (among many other things) is that we are forced to curb our consumerism and face the reality of living within our means.

Interestingly enough, the byproduct of all this downsizing is that young Americans have ranked "green living" and being in control of their finances as marks of success--rather than owning a luxury vehicle or having a fat bank account. People are also cooking more at home, shopping at thrift stores ("It's a way to get new stuff without creating stuff"), buying furniture on Craigslist, and downsizing their cars and homes in order to have more manageable gas bills and mortgages.

Russell Simon, 26-year-old manager of CarbonFund.org, says, ""It's about uncluttering my mind, uncluttering my space and allowing me to focus on things that matter."

So here's our question: How do you curb your spending and how often do you unclutter your home? Follow-up question: Looking into the future and the American economy becomes more balanced (fingers crossed, knock on wood) and budgets aren't as tight, do you think we will continue our spendthrift ways? Weigh in after the jump...

Read the full story "The End of the Shopaholic Nation" on MSN Money.

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