A penny saved is a penny earned -- no matter how old. Image:scmikeburton/Flickr/CC BY-ND

June Gregg was given a 100th birthday party Thursday — not by family or friends, but by her bank. The Huntington Bank branch in Chillicothe, Ohio, was grateful for Gregg’s loyalty. She has kept the same savings account since 1913.

Before World War I

June Gregg’s nearly century old bank account came to the bank’s attention when Gregg mentioned to a friend that she has the same account that her father opened for her before World War I. That friend informed the bank manager, Doug Shoemaker, who checked into records and learned that it was true. In all that time, the account number had only changed once, when the Huntington Bank acquired what had previously been called the Chillcothe Savings Bank in the early 1980s.

Gregg said her father, Gilbert, a wheat farmer,  began the account in 1913, when she was a year and a half old. The original deposit was $6.11. He had wanted his daughter to learn the value of thrift and saving, and it seems the lesson took.

Stay out of debt!

“That’s what he always taught us: to stay out of debt and save our money and not buy anything until we had the money to pay for it,” said Gregg to the press. “I don’t have many wants.”

Gregg never married and has no children. In 1932 she opened a store and later worked for the post office. She worked there for more than 25 years and retired in 1976.

Loyalty ‘takes the cake’

Although some customers have kept their accounts for 30 0r 40 years, according to Shoemaker, when it comes to loyalty, “June takes the cake.” Gregg claims she never even thought about changing banks; she likes the institution.

A gift of interest

As a gift, the bank raised her interest rate to about 5 percent for the next 100 days. That is about 5 times the normal rate.

Sources

MSNBC

Huffington Post

WTHR

Money that isn't part of the consumer spending drive for which the U.S. government is calling. (Photo: Flickr)

United States financial numbers for May 2010 are in, and according to Bloomberg Business, individual incomes outpaced consumer spending. This reportedly made it possible for households to boost their savings and support the economic recovery, although how slower spending boosts the nation’s economic recovery is in question. It could be viewed as another instance of reporting sleight of hand, similar to the way U.S. unemployment numbers were being reported the past few months.

Consumer spending – Where the money needs to go

Reports indicate that the table is gradually being set for increases in consumer spending. Payroll numbers are up, Americans are working longer and salaries are trending upward. Then again, Bloomberg reports in another story that the large number of jobless in America actually lowers salaries as there are so many applicants (supply and demand), so perhaps one hand doesn’t know what the other is doing in Michael Bloomberg’s domain. Whatever the case, the Federal Reserve has kept interest rates steady, so fewer folks will have to dive into the nearest cheap personal loan bunker to make ends meet.

Consumer spending won’t propel recovery

However, as RBS Securities economist Omar Sharif (not the bridge-playing actor) told Bloomberg, the level of consumer spending should be enough for sustained growth, but not enough to drive recovery efforts. Yet despite underwhelming growth in consumer spending, numbers still beat the median estimate of 61 economists surveyed by Bloomberg (0.1 percent gain). Wages were up 0.5 percent (1.3 percent since March), which was the largest increase over three months since December 2007 when the current recession is believed to have begun, and people looked to the easy loan more often than before. As a result, savings increased significantly: 4 percent from April into May ($454.3 billion). That’s the highest such increase in a single month since September 2009, reports Bloomberg.

It’s good news, for the most part

According to Sal Guatieri of BMO Capital Markets, American consumers have effectively rolled with the punches. “As long as jobs are coming back, people will continue to spend,” he told Bloomberg. Paying down debt such as from a fast personal loan and rebuilding savings are admirable financial goals that will continue to see improvement as positive economic factors continue to emerge.

Sources:

Bloomberg Business

Bloomberg (lower salaries)

Consumer spending from the Fox Business point of view:

http://www.youtube.com/watch?v=xmK9gC2nW0Y

How to manage finances wisely

So what does “watching finances” mean? For the most part watching finances means acting wisely and not relying on credit cards or lenders for financial sustenance. Here are some tips to follow when managing finances:

• Budgets. It has long been heralded the primary way to manage finances. Knowing how much money is coming in and how much is going out is integral to making a rock-solid financial plan. A lot of the problems of the past were birthed from consumers not knowing their financial situation and expecting credit to compensate. Now that compensating with credit isn’t as beneficial as it once was, it’s important for consumers to take their budgets into their own hands.

• Emergency funds. A recent study showed that just 49% of people surveyed have 3-month’s worth of expenses stashed away. Prior to the recession the “3-month rule” was touted by experts; after the recession, they are now stating that 6 to 9 month’s worth of expenses are more realistic. Regardless, people need to start squirreling away money for an emergency fund because when times are difficult, credit lenders wil close their doors and cash is the only thing left to rely on.

• Managing revolving credit balances. Revolving credit costs. Sure it may be convenient to not use savings for purchases, but the overall cost to store it away on a credit card is a hefty one. Credit lenders are still charging anywhere from 14 to 29% in interest, and that considerably increases costs of purchases. Any savings can quickly be gone if consumers insist on holding a revolving credit balance. The best thing to do is pay it off immediately, or as soon as possible. It is the only way to effectively manage credit.

• Saving for future high-costs. There are a number of high-costs involved in a life these days. That includes retirement, education, house purchases or automobile purchases. Each one comes with its own set of rules and consumers need to be aware of them. For example, when it comes to retirement, a recent survey showed that 50% of consumers had a retirement plan through their employer and only 28% of the other half had another form of retirement savings set up. That means, at minimum, there are about 20% of Americans who still don’t have a reasonable financial plan for retirement. It’s this kind of financial ignorance that is going to continue getting people in trouble when the market fluctuates and credit declines.

Building positive financial futures

Overall, positive changes are on the way into the market. That’s great news for any consumer, but it isn’t the whole financial picture. Consumers need to be more vigilant than ever about money, and that means watching purchases and money drains. It requires effort, but the end result will be a much more stable financial future that isn’t dependent on credit lenders or market fluctuations.

Large firms filing bankruptcy

This is the largest bankruptcy filing of multibillion-dollar public companies in history, according to Bankruptcydata.com. According to Brian Hamilton, founder of Sageworks, “Corporate revenue is down in the United States and when topline revenue is down, there’s less money to spread through expenses.”

Because of the large number of financial crashes, bankruptcy courts are having a difficult time managing. Barbara Lynn, chair of the bankruptcy committee of the US, suggested Congress make changes in judgeships. She is requesting that Congress authorizes 13 permanent bankruptcy judges and 22 temporary judges to handle the overwhelming caseload.

How Americans are responding

Long-term lodging company Extended Stay Inc., Six Flags Amusement Inc. and GM Corp are just three of the huge corporations that are setting the stage for businesses and individuals. With struggles that are insurmountable being felt on the corporate level, many consumers are interpreting this as extending their individual struggles. Lynn Miller, analyst at Price Waterhouse, stated, “We are seeing people experimenting with more spending, but when large corporations fall, they immediately regress back to their thrifty ways…people want to test the waters, but the economic OK to do so just isn’t there yet.”

Consumer Anne Davies of Middleton, Pennsylvania said, “When GM went, we immediately reassessed our spending. Although we haven’t lost jobs or homes, we still felt that if it could happen to GM, it could happen to us…we started watching our mortgage loans, personal loans and finances that much more closely.” Davies’ sentiment is shared with the general American public, as they try to manage the recession’s aftermath.

Try to mitigate their losses

Many of the large corporations that are currently financially falling are trying to mitigate their losses. GM cut huge amounts of dealerships prior to filing bankruptcy. Six Flags amusement theme parks had heavy advertising in place, coupled with deep discounts, to bring in people, despite their huge debt. At the beginning of this year, Anne Cunningham, spokesperson for Six Flags, said, “We want to bring people in…our priority is to maintain our good name and customer service focus, regardless of where we end up in a few months.”

Many consumers are taking the same view, wanting to mitigate their losses as they watch the post-recessionary period play itself out. They are using strict budgeting and tactful decision-making to handle bills, debt, and savings. The bottom line is that no one knows exactly what state the economy will be in once the recession completely passes. With major crashes in the lending and housing industries, almost no one will walk away unaffected on some level.

Economic slowdown

Although some pundits were hopeful that the recession was bottoming out, the reality is that there are still large signs that the nation has a way to go before it’s in the clear. The consistent fall of billion-dollar corporations is a large sign that more aftershocks are going to be felt by the economy. Consumers have to take proactive steps to watch their personal loans, mortgage loans, savings and retirement accounts. No one knows when the recession’s aftermath will truly be over, and consumers need to be prepared.

Start your personal loan application HERE!

The changing economy and investments

The result of failing credit is people want to put away cash. A recent Gallop poll showed that over 60% of Americans are more focused on saving than spending. That means that people are listening to the news about retirement funds and taking matters into their own hands. Social Security is expected to be gone in upcoming years and people will have to be prepared with their own cash reserves to manage through retirement. Though it is difficult, there are reasonable ways to save, but consumers are cautioned to be aware of things that could eat away at their hard-earned savings. Here are some things to watch for as the economy still shifts to regulate itself.

Federal income taxes

Everyone who has retirement accounts needs to know how funds will be taxed once they tap into the money. Changing rules can quickly diminish savings and leave consumers with considerably less money than they had anticipated. For any consumer who has 401k, SEP plans or IRAs, they need to be aware of the tax ramifications. Experts caution that consumers should consider putting money into tax-free vehicles like Roth IRAs and Roth 401k accounts. Tax-exempt bonds or capital assets like stocks, mutual funds and real estate are also good options that hold up well to any changes in the federal tax rate.

Changing interest rates

Another issue consumers need to be aware of is a change in interest rate. For example, if consumers look at the average CD interest rate, it is considerably lower than it was a few years ago. The interest rate on a year-long CD barely reaches 1%, while in 2002 the rate was at 6%. Consumers need to be aware of how anticipated funds can be much lower if the interest rate continues to fluctuate. CD laddering is one way to mitigate losses due to interest rates. This method will generate higher income from long-term interest rates and reduce losses of short-term changes in the market.

Pensions are reduced

Payday cash is not the only inflow of funds consumers need to be aware of throughout their lifetimes. There is also the pension to worry about. For example, a few years ago United Airlines filed for Chapter 11 bankruptcy. Though workers’ overall pensions were insured, that didn’t mean that some had to take considerable hits to the amount. One pilot who worked for United Airlines took a $7,200 a year cut in his pension without notice as a result of the company’s restructure. Retired consumers need to be aware of how their former employer’s changes can affect their payout. It’s a hard lesson to learn, but the key is to be prepared for it with additional cash reserves if it does happen.

The future of investing

Consumers are being warned by experts to change their way of viewing retirement funds. Although a worker can pay into funds for the duration of their working years, that no longer means the money will remain stable. Market fluctuations, changes in interest rate and changes in taxation all can affect funds. The best thing for consumers to do is to be aware of the potential changes and either move money to different savings vehicles or compensate in other ways for the losses. Payday cash should be a high priority for consumers today, but so should their retirement plan. Experts are warning people to be vigilant about what could happen in the future. The recession taught people a hard lesson on how investments’ values can change quickly in a volatile market.

Money management online

Banks are offering customers pie charts and amortization schedules to get a clear view of their money. The reasoning is that customers who are more in control of their money will see banks as more viable financing tools. That means when they need loans or new retirement account, they will be more likely to work with the bank that offers them online tools to manage money.

Michael Upton, senior VP at Bank of America, (see http://www.msnbc.msn.com/id/35018578/) said, “The more informed customers are about their financial lives, the better customers they make for us in the long term.” Many banks today are taking their online model from Mint.com. Mint is a website that offers consumers the ability to merge data from various sources and give a clear picture of their finances. It gained a huge popularity and industry insiders were watching closely the capabilities the website offered.

Online banking on the rise

Industry analysts are showing that about 60 million people do some type of online banking in the US. The number using personal finance management tools is much smaller, but banks are hoping to turn that around. Although right now less than half of all US banks offer personal finance management, smaller banks and credit unions are quickly moving into the online territory. They understand how important it is to offer additional services, and they know how much focus consumers are putting on their own personal finances now. Upton added, “The recession was a good lesson for people who didn’t prioritize their savings. Now a good number of consumers are changing their ways.”

How the larger banks fit in

Interestingly, bigger banks are not moving as quickly to utilize personal finance tools. It’s the smaller banks that are integrating them. The reason for this is that larger institutions have more elaborate features, and the ability to combine account data could take considerably longer to implement. For customers using large banks to watch their money now, it involves combining systems from serial mergers. That’s a large task for any institution to take on. For example, Wells Fargo has a “My Spending Plan” tool that categorizes spending and has a budgeting script. It only is able to pull date from the bank’s accounts though, which some say limits its usefulness to the consumer. That’s because it is common for people to have a dozen or more accounts with various banks, brokers, and credit card companies. “Consumers want to simplify their financial lives,” said Mark Schwanhausser, a senior analyst with Javelin Strategy and Research. “There’s a screaming need for someone to come through and help them organize, and pull all that account data in one place.”(see http://www.msnbc.msn.com/id/35018578/)

The next step in banking

Schwanhausser said that to serve the customer more, banks need to make their personal finance tools more prominent to the user. Consumers watching their money now want a much more diverse and flexible resource. In today’s high-tech world, it’s crucial that banks keep up. Offering finance tools that are customizable and draw all account information to form a complete picture of finances is the next step to serving banking customers.

Need money now? Apply HERE!

Credit lenders and the market – Relying on cash

People who had cash reserves faired through the recession much better than those who didn’t. Consumers who listened to older generations were validated as they had the funds needed to maintain their lifestyles without drastic changes in spending. In retrospect, analysts are once again espousing the virtues of having a good nest egg to fall back on if disaster happens.

Tips on where to find money

The lesson consumers walked away with was to once again start saving. Pre-recession experts instructed people to have three to five months of expenses stocked away for emergencies. Post-recession, experts now say that number has grow to anywhere from six to nine month’s worth of cash reserves. So where should consumers come up with their extra money? It’s not as difficult as it sounds to find extra money, but it does take some sneaky tricks to keep building savings. Here are some tips:

• Consumers should set aside spending money. Just like parents give children an allowance, adults should use the same basic concept. Once the cash is gone, spending has to stop. It may be a difficult lesson to accept, but it does teach people to never go over a specified budget and plan wisely.
• Experts say that consumers should also find ways to motivate themselves into saving quick cash. For example, a hopeful consumer may want to buy a car. Using that motivation, he or she can commit to depositing their change and depositing $50 a week into a savings account that offers interest.
• Another trick to increasing savings is using the “round up” trick. For example, if a consumer makes a $12.13 purchase, they record the transaction as $13 in their register. Then at the end of the month, the consumer adds up their discrepancies and transfers the total back into a savings account.
• Paying bills via direct withdrawals can also help to save money. First of all, it totally averts the chance of a late fee on a forgotten payment. On top of that, it also forces consumers to get by on the money currently in their account after already paying for their expenses.

Having cash reserves in disaster

The easiest ways to find quick cash can also be the simplest. It may take some focus and determination, but consumers who manage to successfully elevate their cash reserves can be able to rest easy. They will know that should disaster in the form of a recession come, they have the financial resources to safely maneuver through difficulties.

Start your quick cash loan application HERE!

Changing model of retirees

Borrowing money, using savings and family’s financial aid may be necessary for senior citizens moving into retirement homes. Gone are the days of retiring in the comfort of a luxury facility overlooking golf courses and close to shopping malls. In today’s post-recessionary economy, nursing home operators and states are rethinking their decisions. According to home builder Del Webb a new survey is showing that Arizona, Florida, South and North Carolina are where aging baby boomers will be heading.

A new study on retirement

In the past, moving to a warm climate was the priority for those looking to retire but now the concern is primarily financial. The number one fear for seniors is maintaining their cost of living and that is opening the door for more states to attract the retired public. The Del Webb study showed that about 35% plan to move to a new home when they retire and about half plan to relocate to a different state. Samuel Ford, economist for Economy.com, said, “People going into retirement now, or in coming years, have gone through the worst recession since the 40s. Their nest eggs and retirement funds are tapped out or stretched at minimum, and that is causing them to rethink their retirement plan as a whole.”

What retirees want now

For consumers who want to relocate, there are also specific needs. According to a survey conducted by the National Association of Home Builders, those who are fifty-five years and older want the following in a home:

• Maximum storage space
• In-unit washer and dryers
• Easy-open windows
• Garage door openers
• Porches and private patios
• Large bathrooms
• Attached garages

In lieu of these things, they are giving up island work areas, wood burning fireplaces, exercise rooms and separate showers. Hi-tech additions are also no longer a priority. Rose Quint, the NAHB VP for study research, (see http://www.nj.com/business/index.ssf/2010/01/seniors_rethink_their_dream_ho.html) said, “The older buyers are frugal, probably on a fixed income and so expensive tech items are not that big on their lists…Retiring consumers don’t want to rely on borrowing money from families or personal loans to make their monthly budgets. The stress to them isn’t worth it.”

More care included in the home purchase

Another interesting result of the survey is that retiring homeowners want services added to their purchase. John Migliaccio, director of research at MetLife’s Mature Market Institute, said, “Very telling is that the younger group of mature consumers reported enthusiastically that they want services like home maintenance and repair as part of their next home purchase, along with services usually connected to older householders like housekeeping, onsite health care and transportation.” The group also wanted a larger variety of activities and social interaction built into their retirement communities.

Retirement in the future

Overall retirement is changing due to the economic recession. Though it is over, it has left millions of Americans with depleted savings and now they are looking for more cost-efficient areas and situations to retire in. Rather than borrowing money and relying on family help, the baby boomers are opting for cutbacks in retirement. It is telling of how the economy changed public perception and how as a whole society is remembering well the financial difficulties of the market.

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Consumers are using cash advance loans because their 401(k) accounts are being handled by their employers. A new study is showing that there is a new trend in the world of retirement accounts. Barclays PLC’s Barclays Global Investors are now telling employers to automatically build savings for their workers by putting 8% of their pay into a retirement account. T. Rowe Price Group has been moving workers retirement funds into target-date retirement funds, even if the worker previously opted out. Prudential Financial Inc. announced plans to persuade companies to prohibit their workers from borrowing from their individual retirement savings accounts.

Changes like this are making it more difficult for workers to take out money if they need it. A lot of consumers are saving for their futures, but also think of their 401(k) as an “emergency fund” that is there if they need it. There are penalties, but it is still money available. Many of the new laws regarding retirement savings are changing that.

Employers are getting more aggressive with IRAs

The move for employers to become stricter with retirement money is a new wave in the industry. Many companies already restrict their employees’ retirement funds and automatically enroll workers into a 401(k) plan. The worker can opt out of course, but traditionally, they don’t. This new method of employer control is not unlike a defined-benefit pension plan. There is one key difference, however. With the forced 401(k) rules, the individual employee has to bear the brunt of any investment risk.

Fund firms and retirement plan providers are looking at savings from a more controlled perspective. Studies have shown that people historically are not good with their retirement money. Some employees invest far too little, while others invest too aggressively. Straight across the board, employees don’t save enough. This has the ability to bring about a crisis in years to come. Now that Social Security is projected to be tapped out by 2016, consumers need to be ready to take charge of their own retirement funding. Without the necessary savings, it will be impossible for many hard-working people to survive. Without savings, consumers could be left to rely on cash advance loans, short term loans, or families for making it through financial difficulties.

The risk for workers dealing with aggressive employers

There is risk for employees who have to deal with aggressive companies managing their retirement funding. When employers are tasked with making decisions regarding savings, they are left to move these funds towards target-date funds. Many target-date funds were crushed last year due to the recession and that alone brings up many concerns by financial experts as to their reliability when times are tough. Lawrence Kotlikoff, a Boston University economics professor, said, “Automatically putting a big chunk of workers’ pay in stock-heavy, relatively high-fee funds is a form of financial malpractice.” The move is causing employers to not only put larger chunks of worker’s paychecks into their 401(k) account, but also they are increasing the contributions each year.

Retirement no longer in consumers’ hands

So this leaves the future of workers up in the air. Sure they need to save money for retirement, but are employers the best ones to handle the saving plan? Though historically people have not saved nearly as much as they should, does that automatically mean employers should police peoples’ accounts? Or should people be left to manage their own money? These and many other questions are being explored by the Senate Committee on Aging. The organization plans on examining risks, fees and potential conflicts of interest in retirement funds. Until a clear cut solution is found, employees may need to rely on other forms of savings, such as credit cards, cash advance loans and family aid to make it through their retirement years.

Start your cash advance loan application HERE!

Never too old to ride a bike; never too young to plan for retirement

There was a time when planning for retirement was relatively straight-forward. A person simply worked at a job until age 65 and then retired to live off pension plans and Social Security benefits. This was the reward for years of hard work with one employer and paying into a dependable government-sponsored retirement fund.

Life has changed

Much has changed in terms of retirement planning and benefits. Years ago, life expectancy for most seniors was much lower than it is today. Today, people are living longer, which is good news. On the other hand, retiring at age 65 isn’t always financially feasible with people living to age 90 or longer. As life expectancies increase, it becomes more difficult to acquire adequate funds for a comfortable retirement.

Jobs have changed

Today, most people change jobs or careers several times during their working years. In many of these jobs, pension benefits do not exist. To compound the problem, Social Security benefits have not kept up with cost of living increases, and most people cannot live comfortably on them today.

Health care has changed

The problem becomes overwhelming when you add health care costs to the mix. Health care costs, especially for older people, tend to be uncertain even as they continue to rise. Because of this, the future support of many elderly individuals is in question.

Have you started to think about your retirement?

With all these retirement issues facing every person in the United States, it would seem reasonable that we would find alternatives to existing retirement plans and begin saving money for our retirement years. Planning ahead makes sense, but a lot of people are at a loss when it comes to taking action.

Plan for the worst, hope for the best

Experts agree that everyone should begin their retirement planning by assuming the absolute worst-case scenario. We should assume that Social Security benefits will not be available or, at least that they will not be sufficient to support us. Also, we should assume that medical care will create a significant financial burden. No one hopes that these worst-case scenarios will materialize, but we should plan as though they will so that we are prepared. In the unlikely case that they assumptions don’t materialize, we’ll have more than enough money to live on, and what could be wrong with having a little extra to do the things you’d like to do?

Plan for a comfortable retirement

Here are a few suggestions for insuring that your retirement is a comfortable one:

Start an emergency fund. Save as much as possible or, at the very least, have six months of living expenses in a savings account earmarked for emergencies. If you’re like a lot of people today, your living expenses may exceed your wages or salary and you may have to rely on payday loans or credit cards to get through a month. When you figure out how much you need to save and set aside, consider your actual living expenses and not just your income.
When available, participate in your employer’s retirement plan. If you don’t have a retirement plan at work, invest in an Individual Retirement Account, (IRA). Sometimes employers will match a portion of the contributions you make.
Set financial goals and stick to them. Many people dream of sending their children to college, retiring early, and traveling the world. The reality is, however, that these things will not happen without proper planning. Taking the time to sit down and seriously assess the financial backing that will be needed to support these goals, and then creating a plan to invest and grow money over time is the only way to make dreams like these come true.

Start planning now!

Almost everyone who lives long enough will eventually have to retire from working. Some people look forward to retirement, while others dread it, fearing that they won’t be able to survive. The sooner you start to think about and prepare for retirement, the better off you will be. Retirement planning is not just for the elderly. The more time you have to plan and the more time you have to save, the more you’ll look forward to the day you retire, so the best time to start planning is right now.

Photo from Picasa

If you have been hit hard by the current economy and are feeling even more of a post-holiday crunch than in previous years, there may be some relief available. While there are many frivolous extras that we can live without to keep a tighter rein on finances, there are some staple items that just cannot be cut. A Reuters article is reporting that retail giant Target is setting up to sell bulk packages of many household items to help lure customers back from warehouse type stores and help consumers save money on essentials. Billed as “The Great Save Event”, Target is hoping to capitalize on the popularity of buying in bulk.

What will be Offered?

The retailer will offer warehouse packs in 1740 of its stores over the next seven weeks. Each of the participating locations will transform their seasonal section into a bulk purchase area that will offer customers the opportunity to buy necessities in larger quantities. Much like other warehouse club stores, Target will offer bulk packages of many commons items like toilet paper, paper towel, t-shirts, bottled water, etc. They will also include discounted prices on some other non-bulk products, such as designer apparel, bedding, movies, books, toys, beauty and more.

The Advantage for You

Some people may be wondering why they would alter their current warehouse shopping to buy at Target instead. If you are currently a Target customer you will now have the option of stocking up on household necessities at a reduced price and will save yourself the trip of going to a warehouse store as well. Unlike warehouse club stores where you must be a member to shop, Target will make its mass packaged items available to all shoppers without any additional fee.

Changing with the Times

In previous years Target has offered other after holiday promotions on more unique items to try to bring in more shoppers. This year the retailer appears to recognize that most consumers are unwilling to part with their hard earned money for anything more than the essentials. They know that many shoppers are turning to bulk buying in an attempt to save even more, so they must offer these same items in order to compete. In recent months Target has adjusted its focus to be more in line with competitors; the message has been shifted from being stylish to being economical. They are becoming aware that Americans are most concerned with getting by, for the time being.

Get in and Stock Up Now

Unfortunately, like all good things, this event will come to an end. If you are planning on taking advantage of Target’s big deals you can start anytime and can continue to do so until February 21. Depending on the success of the sale, the retailer may consider including some of these new offerings in their regular stock once the event is over. So if bulk buying at Target sounds appealing to you it would be to your advantage to start shopping right away and tell as many of your friends as you can think of too. If you are not near a Target store or your location is not offering the special items, you can still take advantage of the savings online. They have also included some extra “treasures” for their online shoppers.