Everyone seems to be tightening their belts a bit these days.
But when people do go to make a purchase, you may be surprised by how they are paying for it.
For 8 years, Norma Talbott has owned and operated a small Frisco jewelry store.
In a tough economy, she says her sales have been surprisingly stable, but she has noticed one major change.
"We're seeing a shift, and people are paying with cash or they're using their debit cards. They're thinking before they use that credit card," said Talbott.
For some, life without credit cards has been a way of life for a while.
"Eight years ago I decided to do away with them. I just didn't want the hassle," said consumer Mitch Porter.
For others, it's a changing mindset brought on by the Wall Street woes.
"Typically I am going with all cash or gift cards. If I can't pay cash for it at the time then I just don't think I need it," said consumer Gayln Tanner.
Visa and MasterCard both reported growth in their last quarterly earning statements.
But Visa says that growth was thanks in large part to its debit card business as consumers shift away from traditional credit card spending.
"We need for people to be more careful," said Cox School of Business’ Mike Davis.
Davis said if the trend sticks, it's a good sign that consumers are wising up.
"It certainly means people are being more careful, that they're feeling stressed about this economy and they ought to," said Davis.
The thing he says would be really concerning is if the economy continues to head south and the credit card spending goes up.
He says that's an indicator people are in an emergency situation and credit is the only source of money they have left.
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