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Eric Swanson

83% Say Credit Cards Tempt People To Buy - Rasmussen Reports™ - 0 views

  • Eighty-three percent (83%) of adults say credit cards tempt people to buy things they cannot afford, according to a new Rasmussen Reports national telephone survey
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    One more reason why we should have more educational ads promoting less overspending and debt. http://www.beatingdebt.org/EducationalAds.php
Eric Swanson

Poll: Economy Won't Affect Holiday Gift Spending - AARP Bulletin Today - 0 views

  • Of those 65-plus, nearly half (45 percent) say they’ll spend less than $300
  • “We shop every week and buy gifts all year long,” says Fowler, who retired from IBM in 1990. “We don’t wait till the season. It’s easier, and we get as good a deal as ever because we shop while the stores have sales.
  • Most people seem to want to avoid racking up debt this holiday season. More than three-quarters (78 percent) say they plan to buy their gifts with cash, check or a debit card.
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  • Fowler, who lives on Social Security and his pension income, says he always pays cash for holiday gifts
  • “That’s the way I’ve always been, since the 1950s,” he says. “We don’t have any credit card debt.
  • Some 57 percent of 1,046 people polled—all age 50 and older—say they plan to shell out the same amount of money as last year on holiday presents
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    Great report from the AARP saying the older generation understands the perils of going into debt this Christmas.
Eric Swanson

Pay With Cash, Avoid Credit Card Debt - Cold Cash Challenge - Use Cash Instead of Charg... - 1 views

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    If it can work, let's get involved!
Eric Swanson

Answer Desk: Repairing consumer credit  - Answer Desk- msnbc.com - 0 views

  • Until those households get access to credit again, our consumer-driven economy will continue to slog along in low gear
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    Can you believe this article? It plainly says, more debt means more recovery. Is anyone afraid of that economic model?
Frank Fucci

Netspend debt card turn $40 into $60 - 1 views

credit card shopping debt economy Christmas

started by Frank Fucci on 05 Dec 12 no follow-up yet
Eric Swanson

More Americans are planning on regifting, poll finds -- chicagotribune.com - 0 views

  • It's worth noting that Americans who plan to spend less don't always do so. The survey found that of those who made a budget for last year's holiday gift buying, 44% spent more than they had intended
  • The poll also found that 6% of adults still carry holiday debt from last year, unchanged from last year.
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    Amazing that those who tell a pollster they will spend less, don't. Amazing that some people are still paying for last year's Christmas spending. When did celebrating Jesus' birth get so expensive?
Eric Swanson

How much money is enough? - MSN Money - 0 views

  • Take the United States: Richard A. Easterlin, an economics professor at the University of Southern California and a former Guggenheim Fellow, has done extensive research that "found no significant relationship between happiness and time over a period in which GDP (gross domestic product) per capita grew by one-third, from 1972 to 1991."
  • Similarly, Eric Weiner notes in "The Geography of Bliss" that America -- "the wealthiest nation in the world" -- is "three times richer than we were in 1950, yet no happier."
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    Great article on describing the research that more money does not mean more happy.
Eric Swanson

Liz Pulliam Weston - Stop acting rich, start getting rich - MSN Money - 0 views

  • Too many Americans are what Stanley calls "aspirational spenders" -- people who spend money to make themselves look richer or more successful than they are.But their "hyperconsumption" effectively torpedoes any chances they would have at accumulating real wealth, which typically requires spending significantly less than you earn and investing the difference
  • The "keeping up with the Joneses" mentality means the fancier the neighborhood, the less wealth we may accumulate, Stanley said. The opposite is also true: When our surroundings are more modest, we tend to spend less, regardless of our incomes
  • Yes, people have cut back their spending because of job losses, less access to credit and the desire to build up savings, Stanley said. But that cutback is likely to be reversed as the economy improves, he said
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  • "It's not going to change the fabric of people," Stanley said. "Our whole (economic) structure is based on hyperconsumption.
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    A great look at how our "hyperconsumption" keeps Americans poor.
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