With the way the economy is right now, and the job market so uncertain I think a lot of people are holding off on making big ticket items. As for myself, there are two products I specifically want to purchase…a 42 inch LCD TV and a computer for my Hackintosh project, but will wait until the company I work for make its decisions on laying off more people…so there is no sense in buying a large screen LCD TV to find out later, the company is letting go employees, that would just not be financially prudent. Even if my company doesn’t let me go, I think I may still hold off until Christmas or early next year to make my big ticket purchases.
Today, the U.S government released the retail sales report for April and it was weak, this send the stock market for a dive. It’s not surprising however that the retail numbers would come in week, just look at the unemployment rate right now at near 9% in the U.S and in Canada not doing much better. With so many people out of jobs and the future uncertain, I feel that people out there are thinking the same way I am, which is save what you got and make it last. So, in other words use your remaining money / savings for necessities only (food, shelter, transportation, not things that you want like LCD TVs, computers and designer clothes.
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