The Ables Vs Binges Analysis

In today's society, having the biggest and best products is valued above everything else. From new technology, to homes, and even automobiles -nothing is off limits to our ever-growing expectations. This growing trend of owning bigger and better things without being satisfied is more apparent in today’s society than ever before, and it doesn't seem to be ending anytime soon. The need to have the newest products is“stuffing us up” and creates a problem for future generations. The article “Swollen Expectations”, written by John De Graaf, David Wann, and Thomas H. Naylor, provides some interesting insight into the standard of living in past generations. I also conducted an interview with my father, asking him a series of questions about life when he was younger, material possessions, and how he has seen it all evolve throughout the years.

Before reading the excerpts from “The Overspent American” I was not familiar with Juliet Schor’s work. While reading however, I saw that her views were different from many of the other authors that we have read so far. When I had finished the reading I found the reading enjoyable and fascinating. The reason that her writing intrigued me was because of her multiple perspectives while writing. Not only does she concentrate on the economics of American people, but she also uses a sociologist lens to show the purchasing habits of our culture. “The Overspent American” focuses on how we as a society have changed our spending patterns from the past. During the 1950s the phrase “keeping up with the Jones’” was coined and it represented Americans trying to outspend their neighbors and friends. For example, my friend buys a boat and I also need to buy a boat to make sure my friends saw me as being wealthy. Today our society as changed in many ways but Schor finds that our spending habits have altered the most since the 1950s. By analyzing and evaluating her work, one can see how Americans spending habits have changed over time and how our economics have been overtaken by television and broadcast media.

The book, Affluenza; All-Consuming Epidemic, De Graaf, Wann, and Naylor refer to comsumerism as a disease, affluenza. Affluenza, meaning placing a high value on obtaining material things in order to help us to feel more affluent, is contagious, which, in turn, has caused negative consequences with our health, families, communities and the environment. This book discusses the symptoms, diagnoses, and cure for the disease known as

In this article the author exposes and compares the behaviors of the Ables family and the Binges family. The author explains that these two families have the same income, they live in the same neighborhood, and they have a similar housing situation. The Ables is a family that spends carefully, they make sure of what they need before they buy and look for alternative ways to get it. They support their local community and make good relationships with people. On the opposite side, Binge’s family which spends a lot of money on a new things, have an expensive car that uses a lot of gas, eat only junk food and do not bother in recycling. If I had to choose the family that has a truly higher standard of living, I would choose Able’s family because

Thorsten Veblen’s conspicuous consumption stems from the division of wealth that was infinitely more obvious a hundred years ago when the divide between the haves and have-nots was easier to establish though the divide is in actuality even wider today. Thorsten Veblen’s conspicuous consumption grew from pecuniary emulation.

The use of credit cards are rising steadily as more consumers spend more money on common goods and services, thus the rise of credit card debt increases. There is the credit card to pay for items that exceed our current income amount: 4k resolution TV, shopping for sales, and going out with friends now occur more often thanks to credit cards. However, when the credit card bills come around and are not paid on time, debt accumulates and adds and adds on. Credit cards have its many benefits such as carrying reward points for trips and vacations, helping create a credit score for possible job opportunities, and lower interest rate to pay back with more money usage. Unfortunately, it is a responsibility held as getting the credit card paid back, having the harm of a bad credit score, accumulating interest that may skyrocket a person deeper into debt, and spending more than paying straight from cash to pay fees. Credit scores are important as they are a source that partially determines your job outcome, the ability to get a raise, and the ability to have money loaned to help pay for a mortgage, car, and other life necessities. Credit cards outweigh its harm, if used correctly, by having an opportunity for a great credit score and convenience.

In the modern era, credit card is being the efficient and secured form of payment which is becoming a necessity for every individual rather than a choice. Especially in United States of America, credit card is being considered as an essential part of life. Since the introduction of Credit cards back in 1920s, the payment system has been revolutionized and there has been a major transformation in the American economy. However, the excessive use of the credit card has resulted in a crisis which is affecting not only the individuals but whole of the country’s economy.

This paper discusses three probable causes of the excessive use of credit cards and provides suggestions on other available routes for alleviating particular types of expenses.

The credit card is an adaptable repayment tool accepted at over 30 million locations worldwide as it has turned into a good choice for cash. On many events, situations come up where you will need more cash than what exactly are immediately available. Emergencies such as a home or car vehicle repairs, medical expenditures, travel for a family group crisis, are achievable instantly with a greeting card. Such credit spending should be achieved with a short-term

In this day and age, credit cards can be a lifesaver at times but can also cause a major financial burden at other times. Credit cards do have their advantages and disadvantages, which we will look at shortly, but by gaining a little knowledge, principle #1, on how to manage them better you will be able to get the most rewards from using them without them becoming a financial problem. We will also look at the CARD Act and see what new changes it brought to the table and how it helped the credit card user. Let us start with the many positive attributes of credit cards.

Credit cards are a staple of the American lifestyle. There are very few people who do not have a credit card, and the ones who do often depend on it. The credit scores these people earn from using their credit card can even determine if they can buy a house. However, there are some serious problems with credit cards. Specifically, how they are used. Furthermore, the psychological forces involved with credit drives many to spend what they don’t have. Millions of Americans are in extreme consumer debt and are incapable paying it off. This unchecked spending aggravates inequality between the rich and the poor and visible minorities and their majority counterparts. Those who are financially uneducated become poorer with their credit use, visible minorities face discrimination when getting credit, and those who are wealthy are financially educated use credit to further their wealth. These all further inequality, and the repercussions are often most felt by the poor.

From the given data, twenty-one among twenty- five of the respondents answered that they use credit cards for emergency purposes. Two answered that they avail credit cards because they sometimes do not have cash on hand, one said that it is for the purchase of basic commodities and lastly, one said that the primary reason why he avail credit card is because of crdit card offers.It is noticeable that most of them prefer using credit cards for emergency purposes, on the other hand, the remaining number of people under consideration use credit cards for personal purposes and for the want of having promotional offers.

Credit cards have become such a familiar feature of the life style in the world that it is difficult to imagine a consumer economy functioning without them. The credit cards are nowadays the most convenient of all types of payments. The boom of the credit card industry has affected everyone in the world of the "plastic money". That was the name given to the credit card right after it was invented. Nowadays, the "plastic money" occupies a very important place in the economy of the country. "Settlements indicates that the number of credit cards in circulation increased 34 percent between 1988….. The data also show that the value of credit card transactions increased 98 percent during the same period"

In the modern world we live in today, technology has been making our lives easy for as long as we can remember. When an average American stands at the cash register to pay, they are likely to pull out some form of cards such as Visa, American Express, Master card, Capital one or Discover card. All this card mentioned are all called Credit cards. Credit Cards seems to be easy and fast way to pay for purchases when you don’t have cash. Most stores in the United States do not accept check, they prefer cash or credit cards. Although, there are so many positive reasons to own a credit card, it can also cause many problems if one isn 't wise with making sending. One main reason why people set up businesses is with the sole aim of making profit.

Progress in civilization in its turn has brought out radical changes in the manner of trading. The need for something intrinsically useful and easily applicable in everyday dealing is clearly felt. Cash in the form of currency notes and coins makes up just one form of the payment system. Development in banking while also giving inputs to the further development of cash brought about a second phase in payment namely paper instructions such as cheques and credit transfers. The requirement for greater flexibility and convenience has led to electronic payments, and this is where plastic cards have proved their worth. It allows the card issuers to limit the sum of money the card-holders wish to spend. The spending of card-holders who have defaulted on payments or who are over their credit limit can be restricted until the balances are cleared.