DENVER—From postponed trips to changing spending habits and new jobs, the troubled economy has changed Coloradans’ lives in ways big and small.
Denver Public Schools secretary Bernice Adolf, 56, and her husband once spent Friday nights eating out at the fast-casual chain Chipotle Mexican Grill, or at places with happy hour specials. Now they fix meals like spaghetti at home and then go for a walk.
“We’re trying to save wherever we can,” said Adolf, of Wheat Ridge.
This year, the couple decided against a trip this year to Rawlins, Wyo., to visit family. She remembers being able to book a hotel for two for $57 a few years ago, but prices are around $87 now, she said. Gas prices also are up, so a trip will have to wait until she can save some money.
“I have license plate renewals coming up. Food’s gone up too,” she said outside Albertson’s, where she went to take advantage of a $1 sale on several items Friday.
Even shopping habits have changed. She likes eating salad greens, even though it’s more expensive than lettuce. “You have to pick and choose what food you want,” she said.
U.S. home prices are down, unemployment rates are rising, lending has tightened and the government has had to step in to aid ailing financial giants. Last week, President Bush signed a $700 billion package aimed at preventing a further free fall and freeing up credit so people can buy homes or cars.
It might not be soon enough to keep commission-only car salesman Chris Henderson of Greenwood Village from switching jobs.
By this time last year, Henderson estimates he had earned at least $70,000. His last paycheck for 110 hours of work was $449.
Last spring, he and his wife downsized from a 4,000-square-foot home to one that is 2,500 square feet. Henderson, 40, said he is unwilling to sacrifice the education of his 3-year-old daughter, who attends a private preschool that costs about $1,200 a month.
Now he is considering putting away the suit and tie and becoming a commercial truck driver.
He praised the dealership where he works but said there’s little bosses can do for employees when customers are reluctant to step on the lot.
“They tell us, ‘Hang in there.’ We’ve been hanging since summer,” he said.
“Americans aren’t raised to work to be broke. You work to raise your family. They say ride it out. I don’t choose to destroy my credit and go into debt to do it,” Henderson said.
In Lakewood, Dori and Steve Starr are closing Dori’s Quilts and Lodge Furniture because of slow sales. A sign inside says: “Thanks W for driving us out of bidness. Where’s our part of the $700 billion bailout.”
“Our main thing we sell are log beds and quilts,” Dori said. “When you’re thinking your house is worth less than you paid for it, spending money on the house—it doesn’t cheer you up.”
Steve Starr called the bailout an abomination. “It certainly isn’t helping us. We’re the ones who are hurting,” he said.
Construction company assistant superintendent Paul Rak insists business in Denver is still good for him. He has been flipping properties on the side with hopes of retiring at age 62.
“I thought I’d go into early retirement, but it ain’t gonna happen,” said Rak, 54. “The way the country is going right now, it looks worse for me at 62 than 54. Better spend what I have now because the investments might not be worth a penny when I get there.”
He recently bought a used Hummer by trading in his truck and putting down $8,000 more. Though he still puts extra money toward retirement, he’s decided to enjoy life today.
“If I’m going to work ’til I die, I’m going to work until I die, but I’ll have a Porsche and Hummer in the driveway,” he said.
There may be a bright spot. Summer scooter sales were strong at Sportique Scooters in Englewood, where store manager Ray Kite estimates sales over the last two to three months are up 70 percent for scooters that can get 80 miles per gallon.
“Everyone likes the idea of saving where they can,” he said.
