Jill (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
jillithian) wrote2008-09-26 11:17 am
jillithian) wrote2008-09-26 11:17 am
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With reference to this article on the BBC: French hold out against credit crunch
I have a sort of pride with regard to our home improvements. We also want to redo the kitchen, but we're not sure we have enough money in the savings account to pay for it to be done this fall. I'm really proud of the fact that it never occurred to Tim or me that we could just put it all on credit. We immediately thought to price it out and then pay for it with the cash we've been saving. That's pretty awesome.
... "Generally in France you spend what you have and not more," he explains.
"In the US and the UK, the economy has been driven by household spending, consumption has been driven by credit, and a lot less in France, so that's why when there were periods of expansion France grew a lot more slowly than the UK and the US but conversely when it's slowing down, it will slow down in a more moderate fashion than the UK or the US." ...
I have a sort of pride with regard to our home improvements. We also want to redo the kitchen, but we're not sure we have enough money in the savings account to pay for it to be done this fall. I'm really proud of the fact that it never occurred to Tim or me that we could just put it all on credit. We immediately thought to price it out and then pay for it with the cash we've been saving. That's pretty awesome.