![]() Of course, the big question is how permanent will it be? Are we really embracing thrift or are we simply panic-stricken, fearful of losing our jobs? When the good times roll again - and, yes, that day will come - will we abandon our new found love affair with savings? We not only praise thrift, we practice it. It isn’t just the numbers that have changed the way we think and talk about savings is different. Two years ago the personal savings rate hovered around 1 percent. In this week’s Straight Story, Economics Editor Chris Farrell says there are ways to make saving easy.Ĭhris Farrell: Americans are saving like there’s no tomorrow. OK, so maybe not the world’s greatest pick up line but maybe not the worst! So maybe next time you want to impress someone, instead of showing off your great new phone or great new purse, you can talk about how much money you have in your 401(k) or how many coupons you’ve clipped. For now, at least, we’re saving more money and some argue, it’s the end of our culture of hyper-consumption. Stacey Vanek-Smith: If there’s an upside to the last year credit crisis, a wave of bank failures, a massive recession, it could be that we’ve seen some huge changes.
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