For a major online-only bank I had researched and ghostwritten about 10 articles on radical saving. That content, to be posted on the financial institution's website, even included relocating overseas to reduce fixed monthly expenses. Yes, the bank told me to cover the new expatriates.
In Business Insider, Ashley Lutz details this saving ethos. Restaurants, fast foods, and discount department stores are experiencing fewer sales. And on the sales they are making they probably aren't realizing decent margins.
The only way those enterprises are getting us into the store to spend a few bucks is with the lure of slashed prices. Selling has become pure discounting.
Online J.C. Penney posts brick and mortar coupons for $10 or $20 off if the total sale equals a certain figure. In the store it's odd to encounter any women's apparel item selling for full-price.
In the residential complex where I bunk in Tucson, Arizona everyone has a story of the critical need to save, radically.
The middle-aged working stiff next store still owes about $17,000 on student loans. Each year they accured interest, he says. When his lease is up, he will be looking for a lower-cost rental. Good luck, since he's already boxed into a studio apartment, with several cats.
The "woman on the other side," as we nickname our neighbors, needs bridge work, top and bottom. The dentist wants payment in full. She regrets not waiting until she was 70 to take Social Security. She would have been getting $500 more a month.
The "Asian man" who's always on his iPad jabbering to relatives overseas has, in a one-bedroom apartment, a pregnant wife and one small child. Once a week into that cubbyhole he carries his groceries with the care of a Roman Catholic priest celebrating mass with the chalice. Next to his rent, food must be his most expensive item. There is no family car. Other Asians give them rides.
Me? If I continue radical saving, as soon as I find out my tax liability, I can become totally debt-free. The last of the credit-card balance and the car loan will be history. Then, I will just continue saving. It would take an internal and external paradigm shift to return to the spending ways of an affluent society. My hunch is that for Baby Boomers and Generation X, we will die before that's the norm again.