Household items that parents and kids once considered necessities have shifted to the luxury goods lists.
"No longer do significant majorities of the public say a microwave oven, a television, or even home air conditioning is a necessity," report researchers Rich Morin and Paul Taylor on the Center's website. "Instead, nearly half or more now see each of these items as a luxury. Similarly, the proportion that considers a dishwasher or a clothes dryer to be essential has dropped sharply."
Chopping household spending has also become a top priority.
- Six in ten adults report shopping in discount stores more frequently or reducing their reliance on name-brand products.
- One in four say they've cut back on their cable or satellite TV service or pulled the plug entirely.
- One in five say they're handling more home repair tasks themselves rather than contracting them out to others.
- One in five say that they plan to grow their own vegetables to reduce their family's grocery bill.
Canadian families are experiencing job losses, wage cuts, and other fallout from the recession. Even those who haven't been directly impacted by the fallout are being extra cautious with their dollars. What is your family doing to get through these tough economic times? Are your summer vacation plans likely to be affected by what's going on with the economy these days? Are you still finding ways to take care of yourself and each other, despite having fewer dollars to spend?
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