A-Train Finance

There is an epidemic sweeping across America. A virus so deadly, that it could wipe out 90% of an entire generation of Americans. Living like we’re rich before we actually are.  According to Fool.com Americans paid over $50 billion dollars in finance charges (above and beyond the original purchase price) in 2001 on their credit card debt. This is one of the major problems within our personal finance lives. Americans are going into more and more debt every day buying things we really don’t need. Big screen TVs, X-Box 360s, BMWs, Blackberrys, iPods and Tiffanys Jewelery. At this point it is a problem that is deeply rooted in our psyche that is not going to come out any time soon, nor easily. You’ve all heard it before, ‘keeping up with the Joneses’. Media and advertising have programed and trained us to consume, and consume is what we do best. In all honesty, it’s something I’ve struggled with since I first started earning my own money. It has definitely gotten better over time, but really learning exactly what living within my means meant was absolutely a struggle.

It’s a psychological barrier that most people will never overcome. But I say No! We must stand up and come together to ensure the security of our financial futures - especially those of us under 25. Every dollar that we spend at this very important age is potentially hundreds of dollars we’re sacrificing at our retirement. This marks the beginning of a series of posts entitled ‘The American Epidemic: Consuming Our Dollars’.