Shopping Holiday is over - Reuse and Recycle

Christmas Shopping is definitely over and it may be a while before Australians open their wallets again:

Australians plan to cut their discretionary spending by an average 21% in the first six months of the year, a new survey of consumers' shopping intentions conducted by the Australian National Retailers Association or ANRA showed. The ANRA surveyed 1000 Australians aged 18 and over. People aged between 18 and 34 said they will reduce spending by 15%. Australians aged between 55 and 64 are planning to cut their spending by 35%."

Separately, the ANRA said the fall in inflation recorded in the December quarter 2008 confirms the urgent need for the Reserve Bank of Australia or RBA to continue cutting interest rates. Earlier in the day, the Australian Bureau of Statistics reported that annual inflation slowed to 3.7% in the fourth quarter from 5% recorded in the
third quarter.

I know I have definitely cut back on discretionary spending. Cash is king right now as the economy and employment continues to deteriorate. Have you noticed a change in your shopping habits? Are you planning to spend less this year?

Source : RTT news

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A lousy year investing....

Australian shares delivered their worst year on record in 2008, posting a loss of 41 percent as slowing economies, volatile global markets and a credit crunch slashed the value of the nation's biggest companies.

The S&P/ASX 200 index .AXJO has fallen by 2,671.5 points to end at 3,722.3. Back to levels not seen since earlier this decade. With a tough 2009 year ahead, the first part of the 21st century will go down as a terrible one for most long term investors.

One positive was that on the last trading day of the year, index gained 1.9 percent.

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