I thought this article was revealing. As they say, as goes California, so goes the nation. There are a lot of actionable ideas here, from shorting restaurants to credit card companies.
Californians Cut Spending
Published: Monday, 14 Nov 2011 | 10:20 PM ET Text Size
By: Jane Wells
Californians have been cutting spending, according to a new report, in stark contrast to the state government, which continues to spend more than it takes in. The latest figures show state revenues last month were $811 million below projections. Nearly a billion dollars in just one month. Fiscal year to date, state income is running $1.5 billion below projections while state expenditures are $1.7 billion above–a $3.2 billion gap.
On the other hand, individual Californians appear to be doing a better job reining in spending.
“A majority of Californians–60 percent–say the way they spend and save has forever changed in the wake of the economic downturn,” says Citi’s California Pulse report.
How are Californians cutting back? Here are Citi’s findings: