Fewer credit card offers. A recent study found that direct mail offers for new credit cards have dropped 19%. The temptation for you to use credit is drastically reduced which will have a positive long term impact on your finances.  In Ron Blue’s book, Master Your Money, he says that the average consumer spends 34% more when using credit cards over cash.  And get this: according to Sound Money Tips.com, McDonald's found that the average customer transaction rose from $4.50 to $7.00 when customers used plastic instead of cash.  That’s a lot of pressure on our wallets (especially from the extra weight we’ll be carrying as we eat more McDonald’s).

Prepare to see more coupons. One survey found that 67% of North Americans are more likely to clip coupons during a recession.  Grocery stores are already leading the charge – offering more discounts through newspaper circulars, and through online coupon sites. People who take advantage of all those coupons can save an average of 25% on their grocery bill.  Also, a lot of restaurants are known to offer more “buy-one, get-one-free” deals in tough times.  Use this time to catapult you into the next economic boom time.  When the economy turns positive, continue to clip coupons and be thrifty.  As I mentioned in last month’s article, the same basic principles that work in tough economic times work in good economic times as well.  Clipping coupons and deal hunting are guaranteed ways to help you spend less money.

It’s a great time to reassess your life! It’s amazing how easy it is to refocus on your true passions when money gets tight. Like: Do you really need that fancy new cell phone with all the gizmos? Do you really need a plasma TV (or one in every room)?  Or are you better off channeling your savings into fulfilling a dream? This is gut check time.  Decide now what kind of person you want to be.  Do you want to be someone whose happiness depends on the size of his bank account?  Or would you rather be someone whose happiness comes from more important things such as faith and family?

Matthew recorded Jesus’ words in Matthew 6:34:  "So don't worry about tomorrow, for tomorrow will bring its own worries. Today's trouble is enough for today.”  When you have your priorities in place, it is amazing how easy it is to not worry about tomorrow.

Steve Scalici is a Certified Financial Planner^TM with Treasure Coast Financial. He is co-host of God’s Money, which can be heard on the internet at  www.oneplace.com . You can contact Steve at  steve@tcfin.com .