I’m going on feeling here, but I feel like the economy is getting better. That sentiment is based on feeling alone. My academic view of the economy is different. I still feel like we will have some rough times ahead. But I’m basing my “feeling” on my recent propensity to spend money. Is your spending loosening? Don’t get me wrong, I’m not spending foolishly, but I’m spending more regularly. Some of the fear has shaken out, and I have resumed my normal spending habits. But the strange thing is that the spending is only resuming in certain categories.
My interest and willingness to spend money dining out is still slightly diminished. This could be related to the fact that I’m a new father, but I do feel like I am not as quick to drop coinage on a good meal. That being said, I have really increased my spending on groceries. There is nothing quite like summer to loosen the grocery budget. There is fresh food everywhere, and that usually means that I get the justification to eat healthier. My spending on clothing is still down, but my spending on gifts for others is up. The summer always brings more spending on gifts because of graduations, weddings, and parties.
Wait a second. Maybe the economy isn’t getting better. I just think that summer is here, and I have refused to kick my ordinary summer spending habits. Are you spending more money because it’s summer?
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.