Do You Know Where Your Money Is Going?

Americans LOVE to consume; we enjoy getting the latest phones, the newest and hottest cars, huge houses we often can’t afford, dining out…

Americans LOVE to consume; we enjoy getting the latest phones, the newest and hottest cars, huge houses we often can’t afford, eating out, and engaging in constant entertainment (e.g., movie theaters). We are wired to consume, and the advertising industry ensures that we never stop consuming by investing billions of dollars into clever, persuasive, and successful marketing strategies. Since much of society loves to consume, it is easy to get caught in the never-ending cycle of living paycheck-to-paycheck and always consuming more than the income we bring in.

“Consumer syndrome” is: a passive addiction to spending or having the constant urge to spend money. If you continue down this route, and spend more than you bring in, you will inevitably lead yourself into a mountain of debt.

Tip: Tracking each purchase you make can really help you see where your money is going. Once you are aware of where your money is going, you can then make the necessary changes to your spending habits.

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