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Debt management may be an option when cutting back things like Super Bowl spending is not enough
By Sam Craine on Feb 18th, 2010
With some Americans still continuing to concentrate on paying off debt, the most recent Super Bowl may not have been much of a victory for restaurant and bar owners.
According to Technomic, which provides information for the food industry, sales data for Super Bowl XLIV show that total sales were down 5.5 percent when compared to last year. Data was provided for the report from a database maintained by GuestMetrics, which has a partnership with the food information company.
"The Super Bowl is the first big event of the New Year, and we had hoped to see people returning to bars and restaurants," said David Henkes, a vice president with Technomic.
Though total sales were down, the bigger hit was seen in food sales, the report said. Alcohol sales at bars and restaurants was down by only 0.7 percent compared to last year.
One reason why some people either didn't spend while going out, or may have not bothered to leave their homes at all, is because trying to pay off things like credit card debt has become more of a priority for them.
However, some consumers may not have the income to pay off debts associated with rising interest rates. Those consumers may consider a debt management plan, which could reduce the rates they face on their credit card debt.
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