Saving money in the United States

Saving money is what every citizen in America claims to strive for. Our society is beyond bankrupt at this time of day. We dug ourselves into a hole so deep that the walls are hard to find to climb out. Our deficit is so great that we owe China twice what we are worth. Entrepreneurs struggle to keep their doors open, while big businesses continue to thrive by taking all the money from people and keeping it for themselves. Most of the company’s employees are paid minimum wage or slightly more. So where does all that money go? In the fat wallets of business owners and in accounts abroad. Instead of acknowledging this, our friends, families and colleagues continue to use services from big companies that allow them to benefit. People don’t understand that if they bought their clothes from local shops and stores, they would generate income for family businesses, allowing those families to spend money on other local businesses. This was the trading mechanism that society used hundreds of years ago to keep accounts and survive. This would ultimately be a win for everyone as it would just be money being transferred back and forth between us as opposed to the big corporations moving their revenue elsewhere.

Another important method that we need to bring to the table is overspending. The average American family racks up about $117,951 in debt, which equates to $2 trillion statewide. It is extremely unusual for Americans to have more debt than England earns in a year. Why do we ask this? Is it because our mindset is to want everything our neighbors have and more? Is it because we are selfish and greedy and will acquire some credit just to live a certain kind of lifestyle that we cannot afford? Unfortunately, this is the honest truth and what has caused us to spiral out of control as a country. Our government, along with ourselves, have failed to live within our means.

Here’s another myth we live by: “if you pay off your credit card balance every month, you can use their money “for free”. WRONG. The fact is that 78 percent of credit card holders do NOT pay off their credit cards every month. Credit card users give 12 spend up 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 our spending habits and what exactly we spend them on. Use a family-owned coffee shop instead of the local Starbucks. Shop in the small local stores for clothes as opposed to shopping in the mall. Buy your car insurance from a family business, instead of getting scammed 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.