Back in the early 70s when I took a couple of economics classes there was a rule: what is good for the individual is not necessarily good for the masses.

That's OK, I like being in the small percentage.

FWIW, Ohio is considering a bill to limit the percentage rate and number of times a year a consumer can get a "payday loan."

Here is a link that might be useful: Payday loans. These guys used to carry bats to break knees.

I live frugally. But there is no way that EVERYONE can save the way I do. For instance, with the exception of underwear and shoes, I buy nearly all my attire second hand. There is no way everyone could do this because someone at some point in the chain has to buy things NEW. Same theory with autos. Everyone can't buy a used auto. If everyone stopped eating out, and only cooked at home or packed lunches, all the restaurants would close. If everyone stopped going out to movies the entire movie industry would collapse and unemploy hundreds of thousands of people right down to the local theater level, and all the 'tie in' businesses associated with it would go out the window too.

So I hope people keep buying new, and replacing perfectly good items for no reason, and send them on to the secondary market. I need a "new" stove.

I live a similar lifestyle, I have to as I'm a shop-a-holic!
I have weird rules bordering on O/C. I won't spend more than $20 on a pair of shoes, $15 for a skirt, $7 for a shirt, $10 for a purse or wallet, and $1 for a pair of undies. And, I buy new only on clearance or in discount stores. So, I have A ton of clothes, 80 pairs of shoes, only 4 purses ( I'm not a purse kinda gal) I recently sold my house for about 3 times what I paid for it (don't get excited, I bought it for $6000 and sold it for $17,000) It was a lovely 1930 cottage with a fireplace, hardwood floors, 6 arched windows, a bay window... it was great. I got it so cheap because of the area ( a small town with a negative population growth ) and the owner REALLY wanted out from under it. It did need a TON of work. Anyway, I like to live cheap, shopping is more fun for me, because of my weird rules, and I can do a lot of it, too!

Veronica,

Interesting stats on your town. Which state? Virginia? W. Virginia?

~Scott~

I left home the day after I graduated from high school and never looked back.Will not go into it.Needless to say in order to make it I lived frugal. Like Vironicalynn I buy all but underwear and shoes second hand. Laughed all the way to the bank. First hubby died when I was 21 and had big funeral bill to pay off. Got it done in good time and then continued to pay my savings account like a bill every month and never touching it.41 years later that money is all still in the bank and not telling how much it is but I retired for the most part about 15 years ago and live off interest.I did small jobs just for something to do and until we just moved was the local dog groomer.

Yes some one has to not live frugal so others can make a living. I agree. I also would like a new wardrobe shortly.:^))

I think some just need to live sensible and not keep running up their credit cards buying things they do not need. I would NEVER go to Starbucks and pay $3.00 for a cup of coffee. When $6.00 buys you a 32 ounce can. That is just plain silly to me.

Chris

I used to spend a lot of money, and ran up some credit cards. I've since mended my ways, and we are actually very frugal now. We are planning to build our last home on property we bought in SC (which we paid cash for), so we save every penny now towards that end. The only debt we have is a mortgage, and it is small. No car payments, no credit card balances, no furniture payments, nothing. Our son is in his 4th year of college, all paid in advance. It sure feels good! We enjoy life too. We rarely go out to eat, but we are both excellent cooks, and once in a while really splurge on ingredients. We'll take a nice vacation, staying in bed and breakfasts and eating in nice restaurants, but it's once in a blue moon. I don't buy used clothes, but I don't need nice clothes for work, and what I have lasts for years. Our house is mostly furnished with antiques, carefully gleaned from auctions and yard sales over the years. It's the only furniture which increases with value as it gets older! Soon, we'll have a nice (but small) custom home on 7 acres, all paid for. It pays to be frugal!