Dan Prince

After years of “excess” consumption fueled by too much credit and never-ending rationalizations, we’ve finally hit the wall.

To me, it feels like pretty much the whole country is now on a diet. Given the amazingly-rapid decline of our national economy, we’re all pulling back, spending less, consuming less.

On the personal front: We’re eating out less. Spending less on Christmas gifts and parties this year. Reducing our travel. Buying fewer clothing items. Even holding off on some medical and health expenses.

And in the business world: Companies are cutting back on staff, travel, training, advertising, and maybe even some of that very valuable “marketing research.”

And while it has dampened our firm’s sales, to a limited degree, it has not diminished my spirits. I think this period of “American Dieting” is for the best.

It’s time for us–as a country, as citizens, and as businesses–to do a better job of living within our means. It’s a time to recognize that the stock market and home values can go rapidly down, as well as slowly up. It’s a sobering reminder that’s important to be saving for the future, not spending everything we take in, and then some. It’s time to get fit and trim.

Like a personal diet, our national “diet” will be truly effective if it leads us to adopt a healthier lifestyle and better habits, over the long-term. I’m hoping that it will…