Silver Lining In Market Woes

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Monday, August 15, 2011 - 7:50am

With all of the talk about negative effects of a bad economy, here are some refreshing upsides for a change of pace.

"Well, generally speaking, when we see that the market goes crazy, people cut back their spending", says Kelli Grant of Smartmoney.com.

That's why analysts say retailers are more willing these days to drop prices with each drop in the market -- and there's already some evidence of that with some stores moving up back-to-school sales.

"We started to see early back-to-school sales, a lot of bigger discounts than they had initially promised", says Grant.

Consumers can look for discounts on much more than just retail, too.

Airfares, for example, should drop if the economy does the same.

If car dealers decide to throw in some incentives that will make for reduced prices on cars, too.

"We could start to see the automakers putting a little more cash toward that if consumers are staying off the lots this month", predicts Kelli Grant.

With so many contractors hungry for work, home renovations are a bargain now.

Even the bill for the big wedding should be less shocking.

"If you're a couple that’s shopping for a venue -- you're getting married this fall, this winter -- you might have a little extra negotiating room”, advises Grant.

That includes negotiating with vendors like photographers who, like other businesses, want to keep cash flowing even when the economy isn't.
 

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