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Re: OT: How to spur savings in the US?


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Posted by Dave from MN on January 18, 2009 at 06:25:41 from (96.24.108.212):

In Reply to: OT: How to spur savings in the US? posted by kelly C on January 17, 2009 at 23:53:00:

Your right. My wife and I save, not near what we should, but far more than any of our friends. Americans are conditioned to have EVERYTHING, there is no longer wants or needs, just have to have's, regarrdless if they can afford it. I have so many freinds that have $60,000-$100,000 annual incomes, yet have less than $1000 in savings. They cant tell thier kids they can not have some thing because they themselves have to have whatever the Jones's have, one couple has 1 income, a decent income that with 1 kid living at home should be debt free and have a substantial rainy day fund, but since they have to live like their friends that have $150,000 income they have 0% home equity, pay bills paycheck to paycheck and ussually late. They have new vehicles, kid wears name (the trendy) name brand clothes cloths, they each have $6000 sleds, $6500 ATV's, and the nicest of all home appliance and anyting else you can imagine. Two years ago over beers they complained that if the hubby ever had his income cut they would be broke in 1 week. I told them try and sell some of the toys and start making the kid pay for his own clothes, ( he works) and put the saved cash in a CD, and just leabve it. What did they do?? Not one thing, they recieved a tax refund of close to $8,000, and bought a camper with it, so now they also added running 140 miles up north EVERY weekend during the summer.


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