After all the articles about the downturn in the economy as of late, like when did it really start and what caused it, I found that my Barber, Stephanie, had one of the most straight forward methods of determining how bad things were and when it started.
She only charges $10 per cut and she caters mainly to senior, retired people.
When I walked in the other day and found no one waiting I said where is everybody? Usually the waiting room is full and there are discussions of some kind ongoing.
She said no one was there because of the financial crisis. She said she knew our economy was in trouble starting last spring. I asked her how she knew this. She indicated that as the stock market declined her clientele began to drop off. Most of the men still come for haircut's, however it is once every two or three months vice every month. Many also show signs of "wife" hair cuts or razor marks where they shouldn't have been. Most of the men now ask her to cut it closer than normal so they can last longer between visits. Believe it or not she said she was now going to have to reduce her hours and/or the number of days she works. I hear this comment so often from those who are self employed.
Her bottom line was that she has always observed fixed income people looking for ways to save when the economy shows a down swing. Even though $10 per month doesn't seem like much to most of us I understand that it can make a significant difference to many.
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