Some statistics you may or may not know:
1. The average American has 5 credit cards! (If they all have a $2000 limit, that's an easy $10,000 debt just in credit cards).
2. 41% of Americans have less than $500 in savings! And 2/3 of us say we're living paycheck to paycheck. (donkey credit.com)
3. Anxiety, depression and high blood pressure are all at all time highs. As a health professional this is the scariest statistic. It seems our health is suffering greatly because of willingness/need to go into debt. Much of the debt is for things we don't really NEED.
PBS put out a semi-humorous video on this topic several years ago. Here's a clip:
For some help with the disease, here are some recommendations:
Try these handy tips for beating Affluenza!
1. Before you buy, ask yourself:
- Do I need it?
- Do I want to dust (dry-clean or otherwise maintain) it?
- Could I borrow it from a friend, neighbor or family member?
- Is there anything I already own that I could substitute for it?
- Are the resources that went into it renewable, or non-renewable?
- How many hours will I have to work to pay for it?
(Note: Before you do this, you may find it useful to figure your real hourly wage. Take your annual net income and subtract your work-related costs like clothing, transportation, child care, parking and lunches out.