(AP) To understand why people are so cautious with their money five years after the financial crisis, The Associated Press interviewed consumers around the world. Here is what one person said:
Name: Madeleine Bosco
Home: Tujunga, California
Job: Madeleine is a homemaker; her husband, Jerry, 63, is a production manager for trade shows at the George P. Johnson Co., a marketing and advertising company
LIFE BEFORE THE FINANCIAL CRISIS
"We had credit cards and we didn't worry about a thing. Our home price was going up. We got the DirecTV, and got each of the boys Xbox (game consoles).
We used to travel all over weekend trips up and down the coast, up to my uncle in Arizona, up to Big Bear, taking the kids skiing.
We used to go out to dinner with friends."
DURING THE CRISIS
"My husband got a pay cut, and we overspent. ... I had to refinance my house plus $30,000 more (to) pay off the credit card debt."
LIFE AFTER THE CRISIS
"I don't have credit cards at the department stores, at the gas station. I probably had 12 or 13. Now I have four.
We don't go out. We don't take the trips like we used to. We're more homebodies. And we haven't purchased a new car. My husband drives a 2000 Toyota Tundra with over 300,000 miles on it.
It seems every time we get (some cash), an emergency pops up. You need to get the car fixed. You need to get dental surgery.
I haven't purchased a new stove or new refrigerator or new washing machine. I have to baby them. I don't want to go out and spend the money on that.
There are things in this house that could be fixed up. There are rooms that could be painted and things repaired. But we're not doing that. ... I'm afraid to spend money."
"Our plan for retirement is selling off almost all our furniture, selling the house and moving to a one-story home. We'll be lucky if we get a three bedroom." (Their current home has four bedrooms, plus an office, a swimming pool and Jacuzzi.)
VIEW OF THE STOCK MARKET
"I don't trust the market at all. Even though it's rising, I know it's going to crash. There's not enough oversight.
The housing market, the stock market, any way people used to invest. ... Those aren't safe anymore."