Bromo33333
Member
Here in america there are now huge numbers of people of all classes, who have no idea what is even important or necessary for survival and advancement. How did we manage to convince someone that can't pay their rent, that they need $250 tennis shoes? How did we convince someone that working around the clock to pay for an $80,000 car was more important than having a $10,000 car that is functional, and spending time on community and family?
That is a good point - when luxuries are mistaken for requirements, ruinous spending ensues.
This is not recent, the Founding Fathers, save a couple, all died with huge debts, and wallowing in Luxury. Thomas Jefferson being the most profligate - his entire estate had to be liquidated, and a couple of lenders ended up bankrupt. By freeing his slaves, he saved them from being re-sold.
While it is easy to blame marketing, I think it all boils down to being personally responsible for your spending. It does not take a great leap of education to know you have to pay back loans, and that you have to live within your means. I would agree, though, most people don't want to hear that, so ignore it.