Tight economy leads to belt tightening

Thursday, October 16th 2008, 8:06 pm
By: News 9

By Jeffrey Smith, The News On 6

TULSA, OK -- How is this financial downturn affecting the way people spend money?

Shoppers are making adjustments, from clothes to cookies, the way regular folks are spending their money is changing.

It's another day at the office for Desiree Clabaugh.  The stay-at-home mother of three shops twice a week.

 "The kids used to pick stuff off the shelves, and go ‘Mommy can we have this?'   Yeah, sure. Now, it's kinda, we tend not to do that as much," Desiree Clabaugh said.

That's because of the economy.  She says her family is in good shape, but she has to tighten up the purse strings.        

"Just not a lot of the extras.  Just the things that I know we're going to need.  Know we're going to use.  Not a lot of cookies and candy," Clabaugh said.

Cynthia McCabe says everyone's using coupons these days.   And, certain food items are flying off the shelves.

"Hamburger because it's a way you can use it for like four or five meals.  A lot of breads and a lot of eggs and cheese.  And, peanut butter," McCabe, with Reasor's, said.

People are worried about their 401-Ks and about job security.

At consignment stores, the best way to tighten the belt is to put it up for sale.

"We are seeing more consigners come than we've ever seen before.  A lot more people shopping with us that may not have shopped consignment stores in the past," said Terry Turner with Clothesline Consignment.

Turner says even middle-class folks aren't willing to give away old clothes now that a few extra bucks goes a long way.

Another example of the day-to-day changes around town, Turner says last week a woman came in to sell 19 Coach purses.

Even in Green Country, people were living beyond their means and now are having to take control of the pocketbook.