How many of you get angry when they say "Americans are spending and not saving" ?

Question

When it takes everything you have to get by.

You are right Goldwing....this isn't exactly about Seniors....but I'm an almost pre-pubescent Senior. I never made enough to "save" before they turned around and said "oops your SS might not be there now". I never and still don't have a big screen TV.....my kids didn't have Air Jordans.....I don't belong to a club or shop at fancy stores. I don't "blow" money and I resent having them paint the picture that people are just wasting money when they are just meeting basic expenses.

When I went to school....you didn't have to pay to be in the band...or pay to play football, like my kids did. A computer wasn't "necessary"...it is now. Parents weren't "responsible" for college..you got scholarships or paid your own way. Wasn't a parents "duty" to make the down payment for a house for the newly-weds.

They said in China...over 1/2 of their income went to savings because they could meet basic needs now. We can't. Used to be minimum wage made that so....not anymore.

Answer 1

We are becoming the two class society, the RICH & the Poor, There seems to be less of the middle man With gas and food and everything rising, it is really hard to make it. We are fast approching a recession. And the housing market has taken a dive. People have overextended themselves with credit card debt, but don't have any money in the bank. You can't continue to fool yourselves and try to live like the Jones's
if you can't afford to. Wake up people, the credit card company's can't wait to throw cards at you, then you can go into bankruptcy. Then they will throw somemore cards at you, as they know you can't file again for what another 7-10 years.
If you don't have the cash don't buy it. People live in a throw away society. If something better comes along, they have to have it. WHY!!!!! I just read in the paper today what Britney Spears spends a month $737,000 ($49,267 mortgages for TWO houses, $16,000 for clothes, $102,000 for entertainment, gifts and vacations., $4,758 a month to dine out , )She pays Kevin $15,000 mo. in child support and $20,000 in spousal support, that ends 11/5/07. She has NO savings or investments. These are from her court records, regarding her child custody. Ok granted she must have the money, but It is so uncomprehensible to throw that much money away each month. I would be happy to have !% of that.even less, and I would be a happy camper. What has this world come to

Answer 2

Both the Dem's' and re pubs' can rarely agree on anything even when they want the same thing. Unless you go to c-span you will not see much coverage of third party candidates. Large corporations make huge contributions to candidates they support,you are limited in how much you can donate to a candidate personally. Corporations set up committees and groups to support and fund candidates. The latest bankruptcy laws were written by the banking industry for congress to make into law and it bit them in the butt. The other problem is that some people vote for 1 party all the time,either because they support that party all the time and believe it is the only party to do whats right,or they are dissatisfied with the other party for some reason. Both parties want it their way and will compromise some to get their way. If what I read on the Internet last night is even half true,this election may not matter anyway. If we have another attack like 9/11 or a major disaster before the elections F.E.M.A . will take control and George Bush will become the true power of government. If it happens after the elections and before the new president takes office,I don't know what will happen. G.W. signed an executive order for the continuity of government and F.E.M.A. will take over and suspend the constitution and the President will be the unity executive. Congress and the Supreme Court will still exist but will have very little voice,the President has the final say in all matters. There was also another site talking about the formation of the North American Union (Canada,U.S. and Mexico forming a union like the E.U. and the U.S. Constitution will be gone.

Answer 3

HOLD THE PHONE!!!! When Clinton was in office he passed a law that SOCIAL SECURITY COULD NOT BE TOUCHED and there was enough there to take care of the Boomers. But then along came Bush who changed the law and took the SS to use for the war. NO! it is not getting worse by the year, there were more born after WW2, Boomers, the actual birth rate has never been as high as it was then! Clinton had it secured for the Boomers and Bush took it to use for his war on the world to spread Democracy ( we don't even have that really) and so now they WILL change it where the Americans will be able to take theirs out and invest it and the CUT OFF AGE IS 55!!! Well that is not good news for me cause I'm only 53 and what am I to do with a red account at this point in life?? Any suggestions? A friend in Washington, told me, don't worry it will take till your 55 to get it through Congress. I hope he is right!

Answer 4

whoa there, take a deep breath and let it go...this is not about seniors, it is about younger Americans, up to their eyeballs in the latest and greatest on credit cards, not one red cent in the bank for savings, spend, spend, spend. Perhaps they are right...maybe there will be no tomorrow. AS for me, I buy what I want (it turns into need before I buy it, admittedly) and shun the latest and greatest...there is no way to keep up with technology, and I remember as a young parent, we went without to make sure we had some savings, something to insure that our kids would eat..not so today. IF I had to make a guess, I would say the average American is into cc debt to the tune of about 10K, can barely keep up with payments, yet goes out and adds to it whenever the mood hits. The times have changed greatly. We were taught to save, did not expect to have all our parents had when we got married, but today, it is wide screen TV's that have the priority to savings accounts. I don't get angry, but I am not going to ride into the wind handing out money when the roofs begin to fall. I am supposed to feel sorry for all those who have lost everything because they cannot make their mortgage payments now that the stupid entry level loans are expiring...where were their heads 3 years ago when these loans were being offered..did the think they were suddenly going to become rich overnight? Did they think the housing market could not possibly burst as it has time and time again? Sorry folks, but the truth is, the average American saves nothing. Peace and love, Goldwing.

Answer 5

I get more angry by being ask for a loan by people who spend money frivolously. I'd prefer to share what little I have with someone who is doing the best they can with what little they have to work with. ( I know it is a preposition) I think it is more valuable lesson for the young and even middle age to pay the consequences of squandering their money on luxury items they don't need nor can afford.
Why should we forego things we would enjoy as a senior to give to a child or relative that has all the toys but cannot make the mortgage or utilities?

Answer 6

I don't get angry. I do what I can to save. I don't care if someone has a nicer car, a bigger TV or all the latest gadgets. If that's what they want to do with their money, that's their choice. I prefer to save what I can and try not to waste my money on things I don't think I need.

Answer 7

I am used to being slandered as one of those lazy stupid Americans whose work isn't as good as a turd worlder.

I kind of doubt that about china - how can you save when you make 50 cents an hour.

Just a recommendation - quit listening to the propaganda of the mainstream media.

Answer 8

that sounds like some thing my spinster aunt would say,she gave me 400 dollars over a year ago when my hubbie first got sick,to help us out with some added extras.well i called her the other day to say hello,and all she would say is you better not be calling me to ask me for eny more money,you still should have money LEFT OVER.i almost fell to the floor laughing,she never spends money and i suppose 400 does last her a year,but it dont me.every dime she ever had i guarantee she still has.

Answer 9

I don't get angry, but I do wish I could save more.

Answer 10

It is a struggle for the common person without a college education that is for sure. But we still find a little to put away each week and just do without the extras. We want to be able to eat when we retire.