Even some of those who have found work recently are wary of opening up their pocketbooks because of a lack of confidence in the economy. Jenna Kozel, 27, just took a job at Lookout Inc., a San Francisco-based smartphone security company, working in marketing and digital media, after being recruited by technology companies from her public relations job. She’s earning more than $100,000 a year, yet doesn’t plan to buy a car or a house anytime soon.
“I always thought, once I got to a certain income bracket, I’d buy one, but I just don’t want to because I’m worried,” she said. “Even though I’m financially stable, that just seems like an expense I don’t need. I just want to keep my expenditures as low as possible.”