This L. A. Times article is a must-read for anyone who:

• Thinks there is no upside to the downturn in shopping;
• believes they got it bad though they’ve not yet succumbed to thrift-store shopping;
• believes that it’s patriotic and good for the world to spend, spend, spend;
• would like to compare their debt load: “The typical American carries credit-card debt of more than $8,000…”

Author Judith Freeman nails it with this thoughtful missive…

It’s time to pull back. The beast of burden simply can’t carry any more. Few Americans have much in the way of savings. Many of us have lived beyond our means. The typical American carries credit card debt of more than $8,000, and credit is tightening. The party is over, and for many Americans it wasn’t even that much fun.

Yep, it’s time to pull back. And yet, many Goodwills and stuff donation centers are packed to the gills—turning down (or throwing away) donations. Waste management is a booming business. Storage services and pods keep expanding. And most Americans’ closets, pantries, AND panties are bursting.

Wanna BreakAway? Get out of debt. Spend less. (Ever try thrift and consignment stores? They can be entertaining, impressive, and inexpensive.) Try out the 11 Commandments of Fiscal Fitness. And remember: Even when money is in short supply, we are all equally rich with time.

TIME IS THE NEW MONEY.

Spend both sensibly! (Or both will be gone before you know what hit ya…)