Saving money in the United States

Saving money is what every citizen of the United States claims to be striving for. Our society, at this time of day, is beyond bankrupt. We have sunk into a hole so deep that the walls would be hard to find just to try to get out. Our deficit is so large that we owe China twice our value. Business owners struggle to keep their doors open, while large corporations continue to thrive by taking all of people’s money and keeping it for themselves. Most corporate employees are paid minimum wage or a little more. So where is all this money disappearing? In the bulging wallets of corporate owners and in offshore accounts. Instead of acknowledging this, our friends, family, and co-workers continue to use the services of large corporations, allowing them to make a profit. People don’t understand that if they bought their clothes from local stores and businesses, it would generate income for the family business that would allow them to spend money at other local businesses. This was the business mechanism that society used hundreds of years ago to keep up with the bills and survive. Ultimately this would be a win for all as it would just be a transfer of money between us instead of the big corporations moving their income elsewhere.

Another important method that we need to bring to the table is overspending. The average American family takes on about $117,951 in debt, which adds up to $2 trillion dollars statewide. It is extremely unusual for Americans to be in debt on what England earns a year. Why is this what we wonder? Is it because our mentality is to want everything our neighbors have and more? Is it because we are selfish and greedy and will acquire any credit just to live a certain type of lifestyle that we cannot afford? Unfortunately, this is the honest truth and what leads us to lose control as a country. Our government, along with ourselves, has not been able to live within our means.

Here’s another myth we live by: “If you pay off your credit card balance every month, you get a ‘free use’ of your money. FALSE. The fact is that 78 percent of credit card holders They do NOT pay off their credit cards every month. Credit card users spend 12 to 18 percent more when they use credit instead of cash. It hurts to spend cash, so you spend less.”

We really need to reevaluate the clothes we wear and where exactly we wear them. Use a family owned coffee shop instead of the local Starbucks. Shop at the small local stores to entice, as opposed to shopping at the mall. Buy your car insurance from a family-owned agency, instead of being ripped off by money-hungry insurance companies. Above all, stop using your credit cards so much and live more conservatively. Our children are our future and we want to raise them with the right ethics and morals.