Aftershock Money Smarts
SPENDING, SAVINGS, AND DEBT
How well you prepare for the coming Aftershock goes beyond what you do with your investment portfolio. It is also about countless other big and small decisions, made consciously or unconsciously, about how you spend, save, and borrow money.
As we approach the Aftershock, continuing to live your life as if nothing is about to change is foolish. The new economic future requires new ways of thinking. Just as with your new investment thinking, in some cases the old rules for spending, savings, and debt may no longer apply.
Don't Let Spending Become the Achilles Heel of Your Aftershock Preparations
Over the past several decades, shopping for many Americans has become more than just a necessary task; it's become a national pastime. With more malls, shopping centers, warehouse stores, buying clubs, online merchants, mom-and-pop joints, and more places to buy-buy-buy than ever before, much of the country has turned into a coast-to-coast spending arcade. Even our airports now offer more on-site shopping opportunities than the entire economies of some of the countries they fly to.
Beyond whatever it is that we are buying, the shopping experience itself has become the main attraction for many people, so much so that recent studies show that on average Americans tend to become mildly depressed when they are kept from shopping for more than ...