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My opinion is that the majority of people will deliberately push themselves right out to the very thinnest tip of the financial edge.
Few people live carefully within their means.
An accurate illustration is the credit score ad where the poor downtrodden person moves up to a better apartment or better car every time their credit score improves. That catches the essence of the real world and how real people tend to manage their money.
At first glance, your comment about people pushing themselves to the thin edge of financial excess seems to be true. But, closer scrutiny of that view reveals the power of advertising and social peer pressure to be at the bottom of what drives most people to excess. In his book titled, The hidden Persuaders, author Vance Packard described the very sophisticated methods used by marketers when casting their spell upon the hapless citizen.
From the book..
"“A brisk, authoritative and frightening report on how manufacturers, fundraisers and politicians are attempting to turn the American mind into a kind of catatonic dough that will buy, give or vote at their command”—The New Yorker.
Packard wrote the book in 1957 when consumerist studies centered on the subtle psychology utilized in advertising, it was postured as an "attempt," but most of us know that the attempt was a huge success. Today we see pro sports logos proudly displayed on clothing, monstrous SUV's--because you NEED them, huge homes with pretentious entryways, prosperity signaling at it's best, and all the while, people are insisting that they want this--but don't know why. Our buying habits are certainly not a true reflection of need, and most likely, mirror the tactics revealed in Packard's book, so, there is a definite "push" to buy, and most know who's doing the pushing..
At first glance, your comment about people pushing themselves to the thin edge of financial excess seems to be true. But, closer scrutiny of that view reveals the power of advertising and social peer pressure to be at the bottom of what drives most people to excess. In his book titled, The hidden Persuaders, author Vance Packard described the very sophisticated methods used by marketers when casting their spell upon the hapless citizen.
You're absolutely correct, but Packard was ten years behind the curve when he wrote Persuaders. Most who write about advertising and marketing today are trying to explain a conversation they overheard about quantum physics using tinkertoys and colorforms.
Which is part of why so many can dismiss ads and marketing as any real force, except on those weak-minded people over there. They're wrong, but understanding the prevalence and power of modern marketing is an uphill slog if you think the height of the field's sophistication is Don Draper sitting around having gut hunches about what color to make the packaging.
I wonder how many couples are trying to live the American dream of the hubby works and the wifey stays home taking care of the kids or the opposite?
I was fortunate to have a good earning wife and no children. In the circle we traveled in, most were two income families. Granted there were some single incomers in our circle, but 80% were dual incomers. I admit we lived good. Better than most.
I know child care costs stop many from being dual incomers but two incomes can be the difference and something most couples should strive for. A couple, both working $12 per hour jobs makes for a yearly income just shy of $50K. Take it to $15 per hour and it is $62.4K.
If a company is having trouble hiring, the bottom line is they are not offering high enough wages to make people want the jobs. One way for a company to combat this is to offer on-site child care. Workers needing such will flock to them and even accept lower wages than what others are offering. My girlfriend is a bright, hard working, single Mother with two young kids. Offer her $10 per hour and include child care, she will jump at that opportunity.
I wonder how many couples are trying to live the American dream of the hubby works and the wifey stays home taking care of the kids or the opposite?
I was fortunate to have a good earning wife and no children. In the circle we traveled in, most were two income families. Granted there were some single incomers in our circle, but 80% were dual incomers. I admit we lived good. Better than most.
We did. Wife wanted to be there for the kids as they grew up. I worked construction in florida working on new homes while my wife raised our two kids. As a lot of my peers hung out in bars and rented apartments, moved from girlfriend to girlfriend. I was the crazy guy who worked hard and saved my money. Bought my first home in a blow average neighborhood, with my high school diploma and no college debt at the age of 24. Got married at 25 and had my first kid when I was 26. By the time my second child was born, we were looking to buy our second home to be near a better school system.
My wife stayed home until our kids were into middle school, by then I was normally home to watch them in the late afternoon. Our kids had a typical middle class childhood, with two parents home and vacations every year. Even now with both kids out on their own, we still get together regularly for family time and fun.
The middle class is, yes. The poor are subsidized, and the rich of course are the rich. In particular for the middle class, all it takes is one catastrophic medical expense to cause financial ruin even with insurance.
The middle class is, yes. The poor are subsidized, and the rich of course are the rich. In particular for the middle class, all it takes is one catastrophic medical expense to cause financial ruin even with insurance.
It gets so simple when you use a term that has no real definition other than what the reader assigns it.
"The middle class is one catastrophe away from ruin." Who is the middle class? "Families who are one catastrophe away from ruin."
I get the gist and don't disagree, but in the end, this didn't add much to the conversation. Not dissing you, it's a universal cop-out on personal economics discussion to toss around verities attached to terms defined by the reader, so everyone agrees without really having shared any understanding at all.
I think far more individuals and families, across the economic spectrum, are a lot closer to major economic problems than they believe. If, for example, you've never missed a paycheck, are you really prepared for your employer to suddenly close down, drastically downsize or close the only local branch? Or will you be in deep, deep weeds within a few months when an equivalent job doesn't pop up?
........Which is part of why so many can dismiss ads and marketing as any real force, except on those weak-minded people over there. They're wrong, but understanding the prevalence and power of modern marketing is an uphill slog if you think the height of the field's sophistication is Don Draper sitting around having gut hunches about what color to make the packaging.
So, what I am hearing you say is that the only difference between people who are financially comfortable and those who are suicidally desperately within 2 weeks of filing bankruptcy, is that the person who budgets is genetically born to resist advertising and the other poor smuck is totally controlled by Madison Avenue.
So, what I am hearing you say is that the only difference between people who are financially comfortable and those who are suicidally desperately within 2 weeks of filing bankruptcy, is that the person who budgets is genetically born to resist advertising and the other poor smuck is totally controlled by Madison Avenue.
Am I hearing you right?
Nope. But you're not really listening, anyway.
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