I think the first things to go in a bad economy are the extravagances. Personally if I ran a pricey day spa or a bed & breakfast or maybe a Cadillac dealership I would be worried. Personally, I am a bit frightened as to what might happen and I'm not spending money on things I want. There are a few things I was thinking about buying, but am holding off on due to the shaky economy; I would like a new car, but I've decided to try and get a few more years out of the one I have, I'd love to have a washer/dryer in my apartment - I hate going to the laundromat, and I do have the hook ups for them and I'd like a new living room set. Sure, I can finance the furniture, get a Lowe's credit card for the washer/dryer and car dealerships are all but too happy to arrange for a car loan for me, but the way things are, I, like most people are becoming worried. I've seen my retirement savings, meager as they may be, almost wiped out in a matter of weeks. I'm not as scared as some with that, I know I'm only 25 and have a long way to go before retirement, but it's a scary thought anyway.
At least Wall St. had a great day today, but I haven't recouped my losses.
Sorry for the long post, I get worked up sometimes.