What say ye?
Why can’t people save? No money to save or too much spending on the wrong things?
THINK OF IT as the ultimate financial Rorschach inkblot test.
When you hear about the pitifully inadequate retirement savings of so many Americans, what’s your immediate reaction? a) This is the inevitable result of stagnant wages coupled with soaring medical, education and other costs; or b) This is what happens in a financially illiterate society with scant self-discipline and constant temptations to spend.
For me, these differing views were brought into sharp relief by two recent articles on HumbleDollar.
In May, a frequent contributor to the site, Richard Quinn, wrote about 16 ways that Americans waste money. It easily ranks as the most popular article in the site’s 31-month history.
Source: Saving Ourselves – HumbleDollar