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Very very few Americans do this. They should, but they don't. Everything in the culture encourages people to spend.
by api 6y ago
Very very few Americans do this. They should, but they don't. Everything in the culture encourages people to spend.
- macspoofing 6y agoIt's a perplexing attitude. OP just threw it out there as if it's an obvious fact that "people living in poverty don’t have “savings”". That is such a blatantly false statement. Poor people in developing countries have savings. I can guarantee you that even in places like North Korea, people are squirreling away the little they have, just as my grandmother did. Poor people aren't idiots. They think about the future. They plan for the future. If they need to save, they will save.
- war1025 6y agoFurther, if you tell them it's possible they will attack you for suggesting such a thing could even be possible.
- nickpp 6y agoEspecially if you point out to them that they are carelessly wasting the one resource they have that is more valuable than money: time.
- sudosysgen 6y agoWhile that's true, if you attempted to generally reduce propensity to spend in the US economy you would see very, very bad economic effects. It's the paradox of thrift. To note, it has been economic policy to not have Americans save up.