Some Good News--Savings Rate Up
Americans are saving more and if the family in this story is any indication, we are changing our consumption patterns. That's good news for a nation drowning in private and public debt.
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 Rosario and Igor Montoya used to buy, buy, buy for themselves and their two children without a second thought. Expensive sneakers, a new laptop, Legos — they all got what they wanted. But with the recession slashing the Montoyas’ workload and income by more than half, their priorities have shifted from products to activities.

After school and on weekends, the family now hops into a pink canoe they bought secondhand. They paddle though Biscayne Bay to nearby islands, naming each, sometimes making boats out of sticks and leaves.

“I’m trying to teach the kids that you don’t need to have expensive toys to have fun,” said Mr. Montoya, 47, an artist and freelance art director in advertising. “You can make it fun, from anything.”

Quietly but noticeably over the past year, Americans have rejiggered their lives to elevate experiences over things. Because of the Great Recession, a recent New York Times/CBS News poll has found, nearly half of Americans said they were spending less time buying nonessentials, and more than half are spending less money in stores and online.

But Americans are not just getting by with less. They are also doing more. More, about less, here.

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