spending less than what people are earning remains to be one potent tool in managing their finances
Philadelphia, PA (PRWEB) April 07, 2016
National Debt Relief recently shared in an article published March 4, 2016 some insights on why American consumers cannot seem to stop spending more than what they are earning. The article titled “Why Is Spending Less Than What You Earn So Difficult?” looks into some of the factors surrounding the purchasing decisions of consumers in hopes of identifying problems areas.
The article starts off by pointing out that spending less than what people are earning remains to be one potent tool in managing their finances. Regardless if a person is earning a six figures every year, their finances will be in shambles when they are spending more than what they making every month. This could have a lot to do with the mentality that when something is broken, society dictates that it needs to be replaced rather than fixed. But there are a few more reasons why people cannot seem to stop spending.
A consumerist society plays a big part in the way people use their money. Getting a house, car or even higher education usually meant a trip to the bank to get a loan. A mortgage loan to buy a house, a car loan for that automobile and student loans to be able to afford a college education. These methods have been ingrained in the consciousness of people that they seem to be an automatic response to getting the things people need.
Because of this, the article shares that businesses spends a lot of money to encourage consumers to spend. From the out-of-home billboards that are on the road, online advertisements that shows up on social media feed to tv advertisements that pops out in between watching their favorite tv shows.
The article also points out how consumers nowadays are considered “comparison junkies.” This is something people have grown accustomed to at a young age where they compare what they have with others and try to outdo one another. To read the full article, click https://www.nationaldebtrelief.com/why-is-spending-less-than-what-you-earn-so-difficult/