savings in 1950

What has taken the place of savings for an American?

I saw a study comparing average expenses for an American in 2012 vs 1950.

The big one was an 80% drop in the amount of money put away for savings

The average American was spending 58% less in medical care.

But they were spending more for:
Food 38%
Housing 27%
Clothing 315%
Transportation 36%
Recreation 67%
Other 34%

Lack of hope.
you don't save if both husband and wife work outside the home and have to support two cars, a more demanding wardrobe, more expensive lunches, takeout dinners. Why save if you can have fun now since the future is so bleak??

We used to teach the importance of savings. Bank managers would visit schools and explain it. You had a Christmas Club for annual savings for the holidays. But things changed. Credit cards meat you no longer needed a few hundred bucks set aside. Banks decided they no longer wanted small accounts. People lived for the now.

Quote: AZDuffman

. People lived for the now.

Short term housing, rented furniture, takeout meals, leased vehicles, uber, lyft, urban bikes .... wouldn't a bank manager be laughed at now?
In a world where Ariana Grande is singing about icicles to twelve year old girls who fully understand the lyrics, who is going to be gaining an audience if they try to talk about chastity?

Quote: Fleastiff

Short term housing, rented furniture, takeout meals, leased vehicles, uber, lyft, urban bikes .... wouldn't a bank manager be laughed at now?
In a world where Ariana Grande is singing about icicles to twelve year old girls who fully understand the lyrics, who is going to be gaining an audience if they try to talk about chastity?

Adele seems to be doing well and her hit songs are romantic and are about an ex she still hasn't fully gotten over.

Quote: Fleastiff

Lack of hope.
you don't save if both husband and wife work outside the home and have to support two cars, a more demanding wardrobe, more expensive lunches, takeout dinners. Why save if you can have fun now since the future is so bleak??

People need to learn balance. Splurge AND save is the ideal way to live. :)

Quote: KNathan

People need to learn balance. Splurge AND save is the ideal way to live. :)

Which is more valuable..... Nathan giving advice on a gambling topic or in a savings thread?

ZERO = ZERO!

Quote: SOOPOO

Which is more valuable..... Nathan giving advice on a gambling topic or in a savings thread?

ZERO = ZERO!

LOLOLOL!!! 10 thumbs up!

Quote: SOOPOO

Which is more valuable..... Nathan giving advice on a gambling topic or in a savings thread?

ZERO = ZERO!

And yet you still haven't blocked her. My diagnosis is she is a guilty pleasure for you.

Quote: Wizard

And yet you still haven't blocked her. My diagnosis is she is a guilty pleasure for you.

My guess is that guess is about as
far from reality as you can get. It
sure is for me. I can't get over
what she said to Barb and she's
still allowed to post on one of the
sites. I don't care if she 'apologizes'
40 times.