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Consumers are a funny lot when it comes to spending. Each consumer has different spending patterns compared to the other and retailers and businesses everywhere spend millions of ringgit trying to crack the code of consumer spending to help them market their products correctly. However, in the recent financial crisis, it did not take any genius or rocket science to figure out why consumers all around Malaysia and the world were cutting back on their spending.

In a knee-jerk reaction to inflation and uncertainties, Malaysians have tightened their belts in the best way they know – by cutting back on impulse buys and luxury items. Some are even putting their life plans on hold until times improve.

Yeow Pooi Ling (Star Biz) reports that Malaysians are delaying getting married, having children, moving house, changing jobs or furthering their education due to the current downbeat economic conditions, according to a recent poll by Synovate Research. (source)

Find out what Malaysians outlook on the economy is like below.

Synovate Malaysia managing director Steve Murphy said Malaysians had a more positive outlook on the economy compared to developed countries. For example, almost two-thirds of Americans (63%), Japanese (63%) and French (64%) felt their economy would get worse before rebounding. (source)

It is also interesting to note that the top things Malaysians are willing to forgo in this economic crisis are holidays, branded items, eating out and big ticket items such as a house or a car. Are these the same you would be willing to give up too?

While it is important to save, a balanced lifestyle does not have to be compromised if you look out for great offers and cheap deals. So kick back and enjoy a cheap premium beer at the One Utama Beer Fest, shop for cheaper groceries at your hypermarket and take advantage of Malaysia Airlines fantastic airfare deals to plan your next holiday with cheap travel tips!

Its not about how much you earn but how much you can save!