How moms make ends meet
SURVEY | They do without but don't scrimp on kids
Moms are cutting back on household spending, making more home-cooked meals, sacrificing quality for everyday value for themselves and making special shopping trips to save money, according to a survey on how the recession is changing family habits.
While mom is buying herself lower-quality clothes -- if she's buying any at all -- and cutting back on the quality of cosmetics and health products she buys for herself, she's not scrimping on the quality of food or clothing for her kids, the survey showed.
(Sun-Times)
The latest "State of the American Mom" report reveals:
African-American moms are more likely to:
* Use cell phones to keep in touch with their children.
* Have lost income because of pay cuts, elimination of bonuses or reduction in work hours.
English-speaking Latina moms are more likely to:
* Have canceled a vacation because of the economy.
* Say that summertime is as busy as Christmas time.
Caucasian moms are more likely to:
* Turn lights off and use energy-efficient appliances and light bulbs.
* Report that the value of their savings and investments has deteriorated in the past year.
Sandra Guy
The survey of 1,225 moms nationwide with kids under 18 living at home is based on a sample balanced by region, ethnicity, income, household size and population density, according to the nonprofit Marketing to Moms Coalition, which did the survey, and Evanston-based consulting firm Insight to Action, which analyzed the data. The study was conducted from May to June and released this week.
"Women are saying in greater numbers than in the past that they are cutting back on their own spending, but not for their children," said Bridget Brennan, Marketing to Moms Coalition member and author of the report.
"The goal of the report is to take an annual pulse of American mothers, who are the engine of the consumer economy. This year, moms told us that their spending has stalled in a very specific area -- buying products and services for themselves," Brennan said.
Here's how and why moms are changing their behavior:
• Nearly eight in 10 (78 percent) have cut back on household spending this year from a year ago
• 57 percent say their family finances have deteriorated
• 20 percent say they've lost a job within the last year, while 17 percent say their spouse lost a job
• 18 percent have lost benefits, including health care.
Full-time working moms were the least affected by the recession, while lower-income moms and those who work part time suffered the most.
Moms are contributing to the retail malaise by not spending, with Spanish-speaking Latina moms the most likely to have eliminated certain types of spending.
A majority didn't buy appliances or electronics that they had planned to buy, and 50 percent are buying less expensive brands more often.
Moms are turning to a variety of sources for coupons, including newspapers (68 percent), direct mail and online (46 percent), e-mail (37 percent), magazines (34 percent) and "other" (3 percent). Twelve percent don't use them.
Moms also are taking their families out to eat less often; 58 percent say they're making more home-cooked meals; 56 percent are cutting back on home-delivered meals, and 57 percent are cutting back on going out to restaurants.
Seventy-seven percent are using more leftovers. Eighty percent are reading and checking the labels more carefully to ensure quality.