European Union Forums

[Hardy]

Many Americans make a lot of money and still can't save!
Just put a person from Eastern Europe, India or China and they can live 50 years off 1 year of their salary.

http://www.cnn.com/2008/LIVING/perso...ily/index.html

Patricia Guerrero went from making $70,000 to drawing unemployment checks

Desperate to feed her kids, she recently went to a food bank for the first time

Expert says charities are reporting a rise in middle-class families at food banks

Guererro: "It just happened so fast. It happened in a matter of -- what -- two months"

I never used the system. I've been working since I was 15-and-a-half. I needed it now and it turned me down," she said.

I don't understand how people can work all their lives and in 2 months without job they have to go to a FOOD BANK after making 70k!

[Faw_Peter]

only they can understand this. Give me 70k, I will deposit them into bank and will live 5-6 years happily!
Americans become lazy because the state does everything for them, so they don't have to worry.

[Terry]

Actually it is considered that Americans are the best managers on finance and everything else. But these are people who have knowledge in economics. Americans are unilateral, so they can do best only one thing, and not more!

[Faw_Peter]

It's just that Americans don't use to seek alternatives for anything. They don't compare prices for the products they buy; they are not interested in finding new opportunities...

[Benn]

americans should resist the temptation to use your credit cards for purchases they can't afford otherwise.

[Benn]

it was proven that when a person uses a credit card he normally, on the average, spends more than when he uses cash.

[M.Helen]

I agree Benn. When we hold cash in our hands we can see and easily count this money, while the money on the credit card can't be seen and it is more difficult for people to assess whether a certtain good/product is affordble for them or not. This is the money on credit cards run out quickly.

[Faw_Peter]

Commercial banks are aware of this fact, that's why they implement many systems so that clients are attracted by their offers. By the end, the bank is the one which will benefit.

[M.Helen]

Personally, I, like using a credit/debit card. I didn't notice whether I spend more or less money, but I don't have to carry my wallet with me, so I feel safe.

[Hakan G]

A lot of space is dedicated to the problem stated, in the local media in USA. Almost 70% of time I log into an US website there is a story about How to save money. I think the economic depression that the USA is living now, will educate a more responsible spirit among US citizens.

[Steven]

oh but no! They still believe Bruce Willis will come and save them from this crisis!

[Nicholas]

Commercial banks are aware of this fact, that's why they implement many systems so that clients are attracted by their offers. By the end, the bank is the one which will benefit.

Doesn't seem to be true. Lehman Bro, is bankrupt, which is the 4th largest in USA,
I'm sorry - WAS

[Faw_Peter]

That was an entire system, and Lehman Brothers went bankrupt just because the system was so much gotten used to, that nobody could imagine the modern world without the continuation of massive creditation.