Friday, January 9, 2009

Savings Vouchers To Ensure Continued Spending

I was reading the newspaper today when I came across an article which wrote about continuous spending by the public, in order to avert a recessionary situation in our country. Many people might think that this suggestion is ludicrous but being an economic student, I remember studying the Keynesian Theory.

This is extracted from Wikipedia and I quote " To Keynes, excessive saving, i.e. saving beyond planned investment, was a serious problem, encouraging recession or even depression. Excessive saving results if investment falls, perhaps due to falling consumer demand, over-investment in earlier years, or pessimistic business expectations, and if saving does not immediately fall in step, the economy would decline."

As I was reading the article, it brought to mind something which I was given the other day as I was doing my grocery shopping. I do believe it was at Cold Storage, Ikano. This very nice cashier gave me this thick magazine (more than 1 cm in thickness) which looked something like the catalog Ikea used to give. As I had a fair amount of stuff to carry, I didn't really get a chance to look at the magazine. I just kept it together with my pile of magazines to be checked out later on when I am free.

The magazine turned out to be a book of savings vouchers. Wow.. the last time I saw one of these must be when I was studying in Australia. These vouchers really helped a lot, especially when you are a poor student with limited funds.

They have vouchers for Hardware, Car Accessories.. to Groceries to Baby Needs. Have a look at the list.

These vouchers are valid from the 1st of January 2009 until the 28th February 2009. I am not sure if you can still pick it up at the Cashier at Cold Storage or Giant. If anybody want some of the vouchers, do let me know.

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Anonymous said...

Ya I heard other countries' govts are encouraging their citizen to spend... to combat recession.

Sometimes having too many vouchers also no good. Uncontrollable spending. Hehe

Angie Tan said...

Well, pouring funds into the system is one way to combat recession. However, people are feeling anxious and have lost faith in the system, therefore not willing to open up their pocketbooks.

I'm not an economics student but I believe that besides giving incentives for us to spend, the governments need to work together to revamp the system. Looks like we may not have fully learned the lesson from 10 yrs ago. ;-)

I remember looking for vouchers last time as a student. Especially those found at the back of receipts!

allthingspurple said...

Dear, ar, that vouchers are from Giant, but you got them from cold storage? I am going to drop by to try get a copy, if not, then will bug u to see which one I can use that you dowan, ok?

Unknown said...

che-cheh: yeah lor.. many countries are doing that now. too many vouchers?? ooo.. i love vouchers, esply the genuine ones. I cannot tahan those facials, body treatments, slimming massage.. cheat one.. when you go to those, always kena tekan like water fish haha

angie: i totally agree with you angie. the govt should also take measures to instill the people's confidence on the country's economy. Haha.. yah... vouchers are a daily part of a student's life.

allthingspurple: see if you can pick one up lah. else you can have a look at the magazine and see if you want to get anything