Is the Boomer Generation become the Frugal Generation?

I keep reading articles that say that the Boomers have learn to become frugal and that this change may be permanent. I want to know what people think and how you believe this will effect your business and the economy?

5 Bizniks have posted replies

Posted by Greg Marshall, Bellingham, Washington | Sep 25, 2009

Here's an article related to this topic as background information: http://www.t-3.com/blog/index.php/2009/09/2010-consumers-the-cautionary-generation/
Posted by Jodie Le, Seattle, Washington | Sep 25, 2009

I think with the current economy people in general won't be able to live decently without proper budgeting since many of the families out there now include laid-off family members.
Posted by David Krafchick, Seattle, Washington | Sep 26, 2009

II have been cobbling my living expenses for each month. Traditional jobs (Video Depositions) are drying up. So I am literally creating a new role for myself and my Video camera.

And just this week, I have gotten a huge response and some potential work. So it seems to be working.
Posted by Dennis Dilday, Everett, Washington | Sep 27, 2009

The Boomer generation has the same issues as everyone else: things have gotten so insane that a re-evaluation of reasonableness is underway at all levels.

It only looks like frugality because it is compared to the gluttonous conspicuous consumption of us spoiled products of the McDonald's style media marketing efforts.

Balance is always restored, whether it's before or after a fall.

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Posted by Greg Marshall, Bellingham, Washington | Sep 28, 2009

I agree with Dennis. Balance is in the process of being restored. Consumption is going to become a bit more balanced and wild credit-card/home equity spending sprees are going to end.

How do we adjust? the value and quality of our work will be valued now. Services that don't provide a real value will start to struggle.