Personal Finance: How to Live like Kate
Chatzky, Jean, Newsweek
Byline: Jean Chatzky
Want to weather the recession with style? Tips on how to satisfy your inner royal from the Duchess of Cambridge.
In early august, Kate Middleton was photographed stocking up on food (and pushing her own cart, no less) at a grocery store in north Wales. This came on the heels of the wedding weekend of royal cousin Zara Phillips, at which Middleton repeated not one but two outfits from prior high-profile functions. Yes, the Duchess of Cambridge does spend money--the wardrobe tab for her North America tour was a rumored $40,000. Still, she shops selectively.
That's precisely what Americans should be doing. Since the recession began, Americans have been spending half as much as they've been adding to their bank accounts. By comparison, in the year before the recession, growth in spending and savings were about equal. How can you keep your spending in check while satisfying your own inner royal? Here's how to live like Middleton.
Expand your options. If you're in the market for a Toyota Camry, the best thing you can do is throw a Honda Accord, Ford Fusion, or, hey, while you're at it, VW Passat into the mix. Being willing to consider multiple options puts you in the negotiator's seat and allows you to shop for the best deals and incentives. …