Is marketing to blame for this increase in consumer spending and increase in personal debt? Or should we hold people accountable for their own decisions whether that is to spend their money or not?
I feel that the serious emphasis put into marketing strategies does have an effect on the spending that happens. However, people should be able to control themselves and their money without letting it get out of hand. We are taught as children in simple ways to have self-discipline. Single file lines in elementary school teaches us to cooperate with others and not cram together in a big mass but to be proper and respect personal bubbles. This may not have relevance to spending but it's one way that we see personal development in a human. People need to develop the ability to know what they want and need. I want a lot of things, however, in the end, I don't NEED it. I feel that if I have lived without it til now, then what's to not say I can live without it still. I feel that people should be accountable to for their own money. I feel that there should be more regulations for those in so much debt. Maybe more taxes for those over a certain amount of debt could be implemented. I never knew the American dream was to own so much debt that your children need to take on their parents debt problems.
Do you feel that people look at national debt more than personal debt or vis-versa?
Sunday, March 27, 2011
Overspending American
From watching the movie in class about Americans and overspending, it's ridiculous to think how much debt people accumulate. We heard in the movie that whatever people say for the amount for which they are in debt, it's usually double that. One man said he was in a debt of $40,000, which could mean that he is actually in debt up to $80,000. It's amazing that someone could let their debt get that bad. I hate having debt over my head. I paid off a $3,000 loan the year after I left Johnson and Wales just because I'd prefer to pay the bulk and not let interest hurt me.
Also, the fact that everyone wants to live like their neighbors. I agree, I want my neighborhood to look nice, but I do not plan to copy anyone around me. I feel that proper living is essential. I don't think that having a huge house and super expensive car; especially if the money isn't present to do so. I would love to live extravagantly and worry-free, however, I know that this style of living will only come after either the best of luck or careful planning and preparation.
The fact that this overspending is hurting each household separately, but also effecting us all globally is amazing. We overwork to over spend and then we over waste the things we don't want anymore. Also, in hearing that we work 9weeks more than Europeans, I see that my decision to move overseas after school is possibly a real good decision. I know America is the "promise land" for some, but after seeing this video, I see that America is the "promise for over priced land."
Do you think the people accumulating so much debt don't have a real grip on reality or they know the seriousness of what they are doing to themselves and the environment?
Also, the fact that everyone wants to live like their neighbors. I agree, I want my neighborhood to look nice, but I do not plan to copy anyone around me. I feel that proper living is essential. I don't think that having a huge house and super expensive car; especially if the money isn't present to do so. I would love to live extravagantly and worry-free, however, I know that this style of living will only come after either the best of luck or careful planning and preparation.
The fact that this overspending is hurting each household separately, but also effecting us all globally is amazing. We overwork to over spend and then we over waste the things we don't want anymore. Also, in hearing that we work 9weeks more than Europeans, I see that my decision to move overseas after school is possibly a real good decision. I know America is the "promise land" for some, but after seeing this video, I see that America is the "promise for over priced land."
Do you think the people accumulating so much debt don't have a real grip on reality or they know the seriousness of what they are doing to themselves and the environment?
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