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Thursday 21 February 2013

Spending More Places a Dent in Personal Savings

By Rob Sutter


Now that the Holiday season is behind us, I think we can all take a sigh of relief until the next storm in December. If it means that I can let my wallet rest easy like I can, I'll be more than happy to oblige. Personal savings, though, seemed to take a really bad turn and I can't help but point to the ridiculous overspending we do as the factor behind it. We may not have the money to buy certain things but that isn't going to stop us from doing so, is it?

If you spend more money than what you have if it meant having the ideal Holiday, you're not alone on the matter. We want to be able to shower our loved ones with the finest of everything, no matter if we have the funds with us at the time or not. Flashing buck for the best product is done especially so during this time of the year. It may appear as though it's foolproof on the surface but be certain that if it's done poorly, consequences will rear their heads.

That's not to say that everyone who's in such financial disarray is there because of their own actions. In fact, people may find themselves in that position because of the environment that they're in. People seem to live in rather shoddy places and, as a result, they may not be paid that much and those low amounts have to go to utilities. It's when those necessities are ignored in favor of such trivial things like video game systems and iPhones that I start to have an issue.

When it seems like people have little regard for their financial security, their lack of personal savings seem deserved. It's not like they don't have an entity to turn to one the matter since retirement authorities like Savings2Income exist. They can guide people through these figurative tunnels and to a future where financial security is possible. Instead, it looks like people are going to continue spending large amounts on items that aren't exactly needed, whether they have them in possession or not.

It's not like people are set with a certain fate, as everyone has the power to maneuver their way out of a situation they aren't comfortable in. However, one has to wonder if it can be done so easily. As people, not only do people spend more money than necessary but we seem to want to take the simplest route to escape problems. That isn't always available, though, and it's up to us to seek another path that we may not be inclined to take. However, it's needed if one wants to retire comfortably.




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