We Americans love buying things, stuff, and junk. We have the mind set of small children when it comes to spending by saying the following: want, want, want, give, give, give. If we Americans change our mind set or behavior about spending less and saving more we can get ourselves out of the mess we are in at this current time.
Our great nation that we live in is Like a dumb Box of Chocolates. We need to turn the TVs off for a day and sit down and figure out what we truly want for our lives and those of our children.
We need to get back to basis of putting a roof over our heads, food in our stomachs, clothes on our backs and transportation under our feet. Do we really need tv or cable not really. Can we help our fellow Americans? We sure can and we will. If you or someone you know is a great thinker or gets things done, then that is the type of person I would work with any day of the week and treats everyone equal.
Everyone please take time each day to reflect on how to better yourself by reading, taking walks, working in your yards or just being there for your family and friends.
We live in a good nation, but lets start making it a better nation.
Thank you everyone.
I’ve been helping families with their debt situation and the amount of debt that some of these families accumulated are shocking. I had one client who had over $30k in debt (credit cards and loans) and that doesn’t even include the mortgage. Luckily I was able to help the family by consolidating the debt into one payment, which lower their total monthly payment. Then I show them how to pay off the debt faster by using some of the savings and applying it back to the principal and invest the rest of the savings in mutual funds.
Anyway, here are some reasons why people have so much debt:
1) They don’t take time to review their finances or budget themselves.
2) The cost of living is soaring and if people are on a fix income, they are spending more than what they earn.
3) Credit cards enables you to spend more than what you make.
4) Some people are uneducated on how credit cards work (especially young people)
5) They have kids and people will spend money to make their kids happy.
6) Some people have a bad psychological disease of buying things they don’t really need. They know they don’t need it, but they are compel to buy it.
7) Some people want to look wealthy, even though they are dead broke.
You have to start thinking S-M-A-R-T. What kind of cutbacks can you make? For example: I drink bottled water. Now at $1 a bottle on something that covers over 65% of our planet is not smart. So I bought one of those water filters that screw into your faucet. I have bottles that I refil over and over again. I take them to work. Do you have a lot of small appliances around that house that are always on? I cut my electronic bill almost in half by unplugging all the clock radios and night lights. I also bought some of those florescent bulbs that look a lot like a regular bulb. These things use 80% less electricity than regular bulbs. You would be surprised, but these small things add up. I know I was spending money on the water filter and energy efficient bulbs but these things will pay for themselves in a month providing they pertain to you. If you really need the money right away start cutting back on your food costs. Romain noodles cost a dime and they taste just as good as campbells chicken noodle that costs $130 a can. Ok no chicken in romain noodles, but you are probably just missing about 4 tiny pieces of chicken. Put a brick inside your toilet ‘chamber’. You will use a little lesser water each time you flush..Before you know it you will be ahead. Wanna be creative? Find yourself leaving lights on? Buy a motion sensor switch, the lights will turn on when you enter the room and will turn off (by a set amount of time) when you leave the room. I have one, they cost $15 at HomeDepot. So remember you have to start thinking S-M-A-R-T! Yours truly seahorsehawrey.
It costs quite a bit to live here , and almost everyone has a car, and rent , Most of us have to drive to work as it’s too far for much else, Say you are married here with a child, that takes two cars a house and utilities upkeep maybe a sitter if the child is pre school age. The average Americans wage have not kept up with inflation so we may make more than other people but we are having to pay for things that are very expensive, because of that inflation. and the myth that we don’t save is not including 401k plans that most people working for any company of size contribute to. it’s usually not counted as savings but it is savings.
well, the reason that people have debt is because they live beyond their means. if people have savings, it means that they’re living within their means.
you seem to ask it like if you have one, you have the other, but the exact opposite is true.
also, the cost of living in the US is higher than in those 3rd world countries you want to draw a comparison with, and the standard of living is far higher (aka far more expensive).
Mainly because we spend a lot to HELP those third world countries. Name a country that doesn’t get some form of financial support from the US.
Because everything is so expensive here. Gas is 10 times as expensive in the U.S. as in Mexico. A cheap house is half a million dollars. (Both figures are approximate.) So we get more “money”, but not enough to buy as much.
well, my mom had many americans friend.. and she said that whenever they go to the mall and doesn’t have enough money, they use a credit card.. but my parents don’t want to be in debt and have to borrow money. they believe it’s immoral if you can’t pay it back
cuz their spending it all!!!!