Spending to feel good?

More than half of Americans say they aren’t saving enough money, according to a study released yesterday by Wachovia Corp. and the Consumer Federation of America. Even more younger folks admit that. Nearly two-thirds of those ages 18-24 say they aren't saving like they should. The culprits: peer pressure, impulse buying and spending money to feel good?

Do you do that?

Or, maybe you've done that in the past. If that's the case, how did you kick the spending habit in favor of saving? Let me know by posting here or sending an e-mail to abaldwin@charlotteobserver.com. Look for the story Sunday in MoneyWise.

Comments

[anonymous]

Dave Ramsey - Financial Peace Course.

It cures all debt and spending problems!

[DebtsRus]

I see today that Wachovia and Bank of American are anticipating more bad loans. I think it is time for people to stop being in denial of what is happening.
Americans today are up to their ears in debt. The TRUTH is we are living through a historically large debt bubble. The
housing bubble is not the cause of our economic problems but rather a symptom of a nation dependent on DEBT. If banks loan
everyone 1 million dollars is everyone rich? Please don't be in denial about the scope of this issue. A strong case can be
made that the mortgage industry is not coming back but rather will become worse with time for the simple reason .... everyone that wanted a house now has one. (there are no qualified buyers
left) Lending standards will become tougher putting more pressure on housing. A government freeze of rates will just
prolong this issue. Credit cards are also a major issue facing people today. The average American is now just working to pay monthly payments only to see the balance not move! The lending in this country over the past few years has been
insane. We are now left struggling with a pile of debt which puts so much stress on our lives.

[ma656zda]

c437t

[Benjamin]

I graduated college, a business major, without even fully understanding how a credit card worked. There is a lack of formal education on personal finance. Some friends have high praise for Dave Ramsey, and some have done a course called Crown Financial through church.
As for me, two weeks ago I sold my car and don't plan to replace it. It's an experiment, but with Charlotte's public transit improving and with a bit more planning ahead, I'll manage. Chris Balish wrote a great book called How to Live Well Without Owning a Car.

[parlor pig]

Face it, We are in the JAWs of the GREAT DEPRESSION ; Gas prices , water running out, foreclosures out the ass, bancruptcy at record level; This is what happens when you force someone in the WHITEHOUSE without being accountable; It will get worse from here People face it; We need taxation like Clinton did and Bernake better get his YAMAKA thinking cap on; Bernake go to the Temple Beth-el and ask GOD what to do!

[parlor pig]

The economy is just apaper money/ wizard of OZ Government and , monopoly money; All that green paper in your wallet is just that paper and nothing else. There is no gold , diamonds or anything backing up the U.S. dollar. That means if you dont owe anyone you are OKAY but,This is where the WORLD TRADE ORDER wont have the old way of us doing business; They want assurances that we will pay with something real like LAND , gold or oil , rocks ; Housing is way to high anyway and always was getting out of hand; Greedy real estate agents keep raising the bar for their cut ; Real estate agents are greedy parlor pigs.

[parlor pig]

Heres a better plan for charlotte; they should have made a rails to trails and we could use electric cars to get down the rails to trails path to get to work; We can still have electric cars to drive twenty miles and have a gasoline car to travel out of that range only; So say you have to go to the ASHVILLE this week end you drive the gas car ; All week long you drive the all electric around the freeway ad to downtown; VIOLA PROBLEM solved
signed PARLOR PIG

[PARLOR PIG]

CLINTON had the best IDEA for HOUSING all interest rates for anything 200,000 thousand dollars would be at 3% over 30 years ; This was the best idea I have ever heard ; A) you get out of a small dump house and who wouldnt want a house that is wonderful ; You save money because you dont have to carry an AK-47 in and out of the neighborhood; More People would strive to live at that level .

[parlor pig]

LOOK Charlotte needs Governmental UNIONS like Columbus , Ohio has; Things do better when you have a true middle class; Police in my town make 65,000 a year and only work twenty years and can get out while they are still alive.

[parlor pig]

Look RED we need a HARRAHS CASINO right here in downtown charlotte; I want some action in this town and tired of lottery scratch offs. HOW about a CASINO where we can all act cool and be who we want to be and not some CONSTIPATED town who cant get anything right; A CASINO can help with the reperations to the blacks and get them working ; A CASINO would provide entertainment and some real brothels in town and not ametuers like we have now; MOST of the call gilrs in this town better find another profession or get a mask on.

[glutius maxiumus]

Some of these young girls 18-24 are looking for a rich man down here and dont give a flying crap about going to college or working; Charlotte is a literal GOLD DIGGING TOWN ; WOMEN are looking for financial security and so they can cruise to city in a BMW and shop all day ; I run into these women all day long and while their husband is out beating his head against the business walls they are catching his wallet on fire. Most are good looking babes also who get the Big catch too; They look like they work out all day at an expensive gym and spend all the money the rest of the day: Then they meet some of their freinds at DEAN and DELUCA to show off their new clothes and rolex their husband bought them for a little extra sex the night before; WHAT SUCKERS men are .

[glutius maxiumus]

This town wants to make me loose my cheerios; I drive around all day and see worthless assholes not working. I think to myself, what in the hell do Peple do here to support themselves sell crystal meth, steal, make porno in the night , maybe work at a strip joint at night; Fucking beats me; Some People must have a cake ride here. I see People in 40,000 thousand dollar sport vehicles and no place to go. What a town either People hit the LOTTERY in their HOME STATE or their selling PORNO.