brass Blog

Millions of stimulus checks and billions of dollars have been sent by the IRS to eager taxpayers. This infusion of funds is supposed to be helping out; but from an economic standpoint–given the current price of fuel and commodities–does this really spell stimulus, or does this simply spell relief?

The good news first; according to a CNN Money report, the Stimulus Plan was credited for a 1 percent jump in retail sales in May (that’s twice as much as what economists expected).

Now the not as good news: according to a survey by the American Bar Association, 73 percent of Americans have changed their spending habits because of the economy. Whether the changes to cut back are big or small, Americans have their mind on their money and their money on their mind.

I received my stimulus payment the other week and happily danced around the mailbox. But thinking more, I realized it wouldn’t really go to defray my recent camera investment as I’d hoped–rather, it’ll likely go toward gas because of rising fuel costs.

I asked around brass to see if folks have changed their habits and got about an even split between action and inaction. Some say they haven’t made any changes in spending habits, while others say they’ve definitely made efforts to cut back. Common moves for saving included: carpooling, eating out less, cutting back on entertainment (from vacations to movies) and taking time to map out the most economical route to run errands to save on gas.

So now I turn the question to you, brass Blog readers–what do you think? Are you going about things differently to save?

–Peter