Wednesday, February 7

Save for A Rainy Day (An Opnion)

by A.man.I
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Are Americans in trouble financially? There's no doubt our society is built on consumerism. I see plenty of young adults driving luxury cars, we're bombarded with messages that tell us that success is measured by the things you own, and it can be hard to not fall into the trap of materialism.

Growing up, my father urged me to pay myself first, but as an adult it's been hard. All the bills, which included mounting credit debt, and a mortgage, made it nearly impossible for me to make saving a priority. It looks like I'm not the only one.

This article caught my attention last week. Apparently last year, Americans saved less money than since the time of the Depresssion. That's depressing. The savings rate nationally was negative 1 percent. That means people are spending more than they save, and they're paying for it primarilly with credit.

So while we spend our hard earned cash, and make these corporate exectives rich, we're digging our selves into a hole that's going to be tough to get out of. My household has managed to eliminate our debt, thankfully, and I've made a resolution to do more to keep the money in the community, and in my bank account.

Watch the adventure below.

YouTube version
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3 Comments:

At 9:12 PM, Anonymous Anonymous said...

amani,
can i have a loan?

LT

 
At 8:30 AM, Blogger Widescreen said...

Loved it. That old guy was great talent. The whole time I was wondering how the crap you got a camera in a bank so freely.

Of course there was the sting at the end. That would never happen here.

 
At 1:57 AM, Blogger Lan Bui said...

Great report.

It is very important to support your community, small financial institutions can compete with the "big guys" if we support them.

Has Capitol City Bank seen this report?

 

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