It is no secret that the spending habits of traditional Americans are not all that pretty. Way too many Americans find themselves in a position where retirement seems like a lofty goal only accessible by either the old or lucky, and that most people – including them – are “regular Americans” just trying to get by in a harsh and unforgiving economy.
Sadly, this poisonous thinking keeps way too many Americans accepting their 40 to 50-year
jail office sentence. But in truth, the only elements of spending and saving that are harsh and unforgiving are the things that Americans insist on blowing their money on – or in other words, discretionary spending.
In 2009, Americans spent a whopping $1.13 trillion on this type of spending. First world problems, anyone?
A recent ConsumerReports.com study offers up a sad graphic that depicts American foolishness with money quite well. How are Americans actually spending their money? Good question, and I’m glad that you asked. [Read more…]