- 34% of Americans are delaying major purchases like a home or a car
- 29% are paying down debts
- 28% are planning to reduce holiday spending
- 24% are allocating more income to savings
- 24% are staying in a job they do not enjoy
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It is a very correct decision not to take out loans during the crisis, because it becomes more difficult to earn money. But if you have money, then you can buy a car or a house during a crisis much cheaper, because demand will fall and sellers need money.
But if you are poor and up to 50% of your salary is spent on loans and the rest for necessary needs, then it is very difficult to change something now.