Think Twice Before Getting Payday Loans for CES in Las Vegas

In years past, a technophile may have gone so far as to take out payday loans to attend the annual Consumer Electronics Show this week in Las Vegas. The show must go on, and it will, but not as usual.

Since its inception, the Consumer Electronics Show has gotten bigger and more extravagant by the year. But amid the current recession, this yearly technology extravaganza is following the pattern seen in households and businesses across the nation: It’s scaling back.

How far back?

CNNMoney reports at http://money.cnn.com/2009/01/05/technology/electronics_vegas.reut/index.htm?postversion=2009010512 that the convention expects fewer manufacturers, retailers and attendees than past years. Many businesses that would have previously attended can’t afford it this year. Same goes for consumers.

The items featured will also be scaled back, size-wise. In past years companies focused on displaying the biggest “insert item here” EVER. This year, the focus will be on greener technology and devices that help consumers save on bills.

By the numbers

Attendance is expected to fall by about 11,000, and about 300 fewer exhibitors will be there compared to last year. The convention will cover 1.7 million square feet. This may sound like a huge area, but it’s significantly smaller than last year’s space.

Companies will be focused on hard numbers, too. The Consumer Electronics Association reports that more businesses are asking for meeting space, a sign that companies are looking to do business rather than just arouse interest. In the past, CES was designed to get widen eyes and get technology buffs salivating. This year, companies are looking to make the sale. If you’re one of those who took out payday loans to get a ticket to the convention, be wary of salesmen who are being pressed to make sales.

Making connections

Looking over the list of products consumers can expect to see at CES, it is easy to draw parallels to the economy. TVs will be there, all right, but instead of trying to be the biggest, companies are advertising their most energy-efficient models.

The hot-ticket item this year seems to be a little phenomenon called netbooks. Small, inexpensive laptops are seeing rising sales as the sales of regular PCs and laptops drop. Netbooks go for about $300 or $400, and their screens are usually about 10 inches. They also use minimal power, thus making them more energy efficient. They generally don’t have disc drives because their primary purpose is to connect to the Internet. Nowadays that seems to be just about all people need.

Broken record

Recession, recession, recession. You may feel like this is all you ever hear about anymore. But the shrinking economy has caused even this extremely popular show in Las Vegas, the city of excess, to shrink, too.

So maybe it’s time to start paying attention. Until recently, I didn’t think the recession really affected me personally, and I thought I would never need payday loans. But after watching my bank account shrink and my bills grow, I know it’s time for me to get some financial education.