A Penny Earned Is A Penny Spent - In America
Marilyn Gardner writes for The Christian Science Monitor about the personal savings rate of Americans hitting a new low last year (actually a negative number -0.5%) for the first time since the Depression era 1930's.
Another culprit involves the changing idea of what money is. "We have lost a tactile sense of money," says Rakesh Gupta, associate dean of the School of Business at Adelphi University in Garden City, N.Y."We're using plastic now. It doesn't seem like money. When we have a roll of money that gets smaller and smaller, we think about where we should spend it. Now that we can whip out a credit card or debit card, the pool of money seems endless."
Add your comment... (note that all comments are reviewed before they're published)