The current economic situation will force every one to consider Essay

The current economic situation pull up stakes force every one to consider cautiously how money is spent - Essay ExampleAmericans, when they are in need of money for making a house or for purchasing a car, impart usually approach the banks other financial institutions for loans. The banks have a habit of sanctioning loans without proper enquiries about the financial assets of the person who approached them. Thus the American reality got money from financial sources without any barrier whenever they are in need and that resulted in too much spending compared to saving. The current economic situation will force everyone to consider carefully how money is spent. This paper briefly explains the changes in money spending habits caused by the current financial crisis or economic recession.A staggering 87% of American families have rethought their eating habits and the food they buy in order to reduce costs. 40% of Americans report they have had to cut mainstay on the amount of food or gr oceries they purchase in the wake of todays economic crisis. Family income is a big factor. Nearly half 49% of those whose annual household income is less than $50,000 say theyve slashed spending on food in order to make ends meet compared with 28% who earn more than1. The above statistics clearly show how severe the current economic problem is. Americans, who spend lavishly for food items and their eating, forced to cut down their spending on these commodities because of the current crisis. Many people has lost their jobs and many others under the threat of losing their employment which forced them to reduce their family spending on eating items.Earlier gentle wind buses were simply a fashion for the American people. Most of the people used their own vehicles for their traveling needs. But at present the line buses are foot race full and people started to use the line buses more frequently to cut down their expenses in order to escape from the current financial crisis. The Imp act of the fiscal Crisis in Public Transportation is so severe that the nationwide