Budgeting: It is a word that is on everyone's mind this year from federal and state government officials to individual households. Consumer confidence is at an extreme low during this economic recession as individuals attempt to get control of their finances, save money and reduce debt or even looking for ways to avoid filing for bankruptcy.
The times are not easy. Even though economists say the recession is over, many Americans are still facing the same financial problems they were experiencing last year. The unemployment rate remains high, while the number of foreclosures and bankruptcies continue to increase. In order to deal with these financial stressors, more Americans are cutting back on small expenses.