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With Consumers Pulling Back, Is Saving Going to be Sexy Again?

Consumer spending appears to be slowing down as prices for many necessities head up, and unemployment continues to rise (in fact, the jobless rate is up more than two percent in NC over the past year, and stands at 6.9% as of August). We all know that consumers tend to pull back in times like these and with many financial institutions cutting lines of credit, some consumers may have no other choice.

My question for you: after having the punchbowl taken away from them, are consumers about to change their relationship to credit and the way they live, or are we all just waiting to be invited to the next party? Is saving money going to be sexy again?