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How Can You Stimulate the Economy?

Updated on March 15, 2009

It is well known at this point that the United States is in a recession. No one knows how long it may last, but everywhere you turn people are either talking about frugal living or how the economy can be stimulated. I am all about frugal living and am always on the look out to save money. But, according to the news so many people are living a more frugal lifestyle that it is hurting the economy and preventing the US from coming out of this recession.

I don't believe that. I know it is becoming more and more popular to live frugally and save money, but I don't think it has gotten to the point that it is really hurting the economy. Honestly the United States has been on such a path of over consumption for so long, that I think this turn towards frugality is just the economy correcting itself. There are ups and downs in everything and this is just one of them - in my opinion anyway.

That being said, according to the news, the economy needs to be stimulated, so how can we do that? Well, if you are unemployed or deep in debt, then you don't need to be stimulating the economy any more than what you have been doing. There are many people that fully need to concentrate on themselves and not worry about its affect on the economy.

For many people though, they are still living a life that is unaffected by the recession. If you have plenty of savings, a secure job and no worries, now is the time that you could help the economy. I am not saying go out and spend willy nilly or anything. But there are a lot of people looking for work. Think about how you can help them.

Have you been meaning to have your house painted or your basement finished? If you have the money saved for it, now is a great time to tackle a big project like that. People, especially small businesses, really need the work. Not only would you be helping them by employing them, but chances are good you will get a great rate. This is a win-win situation for everyone.

If you don't need to be cutting back, then don't. Think of the trickle down affect that your actions have on other people. When you go the local restaurant for dinner with your family you are helping the owner pay his bills and keep the doors open for the restaurant. This restaurant is employing many people in your community. Your waiter or waitress will gain directly from you eating out that night. You are helping them pay their bills, which could determine whether they keep their house or not.

Now is also a good time to buy a car or a new home, IF you were planning on doing it soon anyway. Make sure you are either fully qualified to make a large purchase or you have the money saved ahead of time. The price of cars is very low right now and there are lots of incentives. Housing prices are falling and you could now afford a house that you couldn't a couple of years ago. Without overspending, you can stimulate the economy with carefully thought out, well timed purchases. Think about it and see if you can help.

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    • jayb23 profile image

      jayb23 

      9 years ago from India

      Great Hub and some wonderful tips altough I think alot many people have to spend to stimulate the economy.Thumbs Up

    • Toronto12 profile image

      Toronto12 

      9 years ago from Toronto

      I think that we've still got another year before we see a bottom in the housing market. But, interest rates may be higher at the time, so it's difficult to say when the best time to buy a home would be.

    • JYOTI KOTHARI profile image

      Jyoti Kothari 

      9 years ago from Jaipur

      Hi Jennifer,

      Different people think in different way. You have shown something different. It is nice. I think there are other things to do to come out of the recession. Will you like to write some other hubs on the topic?

      I have written some.

      Jyoti kothari

    • profile image

      mosesm 

      9 years ago

      We are our brothers keeper, your ideas are wonderful and true. To stimulate the economy, those who are blessed they should extend their blessing to others by wisely spending their money to impact other peoples life.

    • profile image

      mary bee 

      9 years ago

      These are great ideas. I have a brother who is currently out of work and he has generously offerred to do some yard work for us. He isn't thinking of being paid but I would like to pay him for it.

    • JennifersJumpers profile image

      JennifersJumpers 

      9 years ago

      What I like most about this hub is that you are suggesting people make purchases of services and things that lead to USA dollars staying here (well, that's not always the case with cars)!

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