Monday, February 09, 2009

8 Reasons Why we overspend

So, I read with interest an article at Forbes.com about the 8 Reasons Why we (U.S.) overspend. I think, the author hit the nail right on the head with that article. In fact, I myself have been wondering why U.S. seems to like credits so much. Where, people keep spending even when they can't afford it?

I even chat up with one of my friend in the states (Texas) about this problem almost 8 years ago. One, disturbing case is where people pay credit card debts with another credits agency!

I mean, what happens to the wise old saying of living within your means or keeping yourself honest and refraining oneself from being in debts. What happens to the good ol savings virtue?

I think it's a sickness. It's a case of terrible virus. We should try to cure it and nipping it at the bud is how it's needed to be done. I think, we should start right from the beginning and to our young ones. If savings and living within our means are not taught to our children then later on it'll happen all over again.

The current economic crisis is proof of our fool hardy ways. We still have the chance to learn and make things right again. Now, is the time for change. Change now or things might get worse then they already are.

So, think about it.

Click here to read the full article. Learn something from it. For, your own sake.

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Have a nice day.