Comments on: The Discomfort of Being Financially Abnormal

By: Darlene Bolesny

Darlene Bolesny — Wed, 02 Jan 2008 16:13:27 +0000

I have recently discovered your website and am enjoying it a lot. I also track “Marketplace” from American Public Media:
http://marketplace.publicradio.org

I would love to see your comments on their show – reaching the people who *really* need to hear it. Marketplace encourages such commentary:
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Marketplace Productions
261 South Figueroa Street, Suite 200
Los Angeles, CA 90012

Phone: (213) 621-3500
Editorial Fax: (213) 621-3506
Administration Fax: (213) 621-3508
E-mail: Use Contact links above.

If you are interested in submitting a commentary, please send your piece to commentary@marketplace.org. Pieces should be no more than 400 words in length, have a clear economic or business theme or angle, and should be written in a conversational style. Please allow 3-4 weeks for a response.
***

I hope you’ll consider submitting this particular commentary. It is timely, totally appropriate, and I think that Marketplace might well accept it.

BTW, I am a legal secretary, but also a published author – when I say that I think they might use your material, I really do mean that. And I know that if they use it, they will have you read it for them and they will announce your website address at the end of it – it would be worth it just for that. IMHO….

By: Jay Gatsby

Jay Gatsby — Wed, 02 Jan 2008 15:36:45 +0000

As a saver rather than a spender, I agree with your points. Frugality should be seen as a virtue, but it does come with a price. The more people save (and not spend), the less growth in the economy. Consequently, I believe that a “balanced” approach should be followed. Judicious spending on necessities, with a few luxuries, should be the general mantra.

By: Norma Walker

Norma Walker — Wed, 02 Jan 2008 14:22:26 +0000

Glad to see this post. Papers amd tv make it sound like the econmy is in bad trouble if a lot is not spent on Christmas. I think a lot of people are spending what they can afford. It seems better for the econmy that people with credit card debt.

By: d.a.

d.a. — Wed, 02 Jan 2008 14:00:59 +0000

I would add that the spend-spend-spend mindset also adds to waste-waste-waste, and massive depletion of resources.

By: Paula W

Paula W — Wed, 02 Jan 2008 11:09:14 +0000

I understand the scenario you are describing and we’ve all seen it from time to time.
But a lot depends on the geographic area where you live and what social circles you circulate in.
Headlines in southeast Michigan during the 2007 holiday season included food pantries running low on supplies, and record number of requests for the Christmas charity drives. (There also were assorted non-financial holiday stories.)
Conversations with friends and relatives have included who was waiting for a layoff notice, “we have to cut back on holiday spending this year,” and nervous waits for homes to be sold.
So … your frugal lifestyle choices would not be so out of place where I live.

By: Minimum Wage

Minimum Wage — Wed, 02 Jan 2008 02:01:56 +0000

Early Retirement Extreme’s comment gave me an idea:

In the consumerist context, frugality is countercultural, so could young people be attracted to try or even embrace frugality if it were presented as countercultural?

By: baselle

baselle — Wed, 02 Jan 2008 00:16:49 +0000

I feel the same way. I especially feel the discomfort in being a saver when everyone else is a debtor and the prevailing attitude is spend at any cost … well, the extra cost is additional fraud and crime. Some debtors will suffer in silence, many will not. I find I have to act as if I am struggling because if I don’t I’m a target.

By: Meg from The Bargain Queens & All About Appearances

Meg from The Bargain Queens & All About Appearances — Wed, 02 Jan 2008 00:12:01 +0000

I admit, I love shopping and having nice things, and I love helping people find things that they can enjoy.

But even I am disgusted by the way the news media has covered the holiday season. Actually, I think I’m just disgusted with the news in general.

On the plus side, it may have turned me off to spending just a teensy bit. I’m trying to change my habits and at least buy more wisely.

By: Henrik

Henrik — Tue, 01 Jan 2008 23:35:11 +0000

I can see your point of view but you got a few things wrong.or at least a few things I disagree with..

* Spending does help the economy… The more money the businesses earns,the more jobs are created and thus the better the econnomy has it. (Or so it is here where we have a comprehensive social security system)

* saving interest might go down, but savings accounts are not meant for long term “getting rich” planning. They are a means of short terms storage where Much higher they grow slightly more than the inflation, so you dont loose money like you would if you kept them in cash

If you want your money to work for you, invest in something like stocks or bonds.

If you dislike the situation in the US so much, why not consider moving to a better suited place ?

By: J

Tue, 01 Jan 2008 23:12:42 +0000

I hear you and I even agree with you just a little. However, the media only reports the behavior of the consumer in this case. People are more than happy to go out and spend money around this time of year, and the media is merely reporting how much is being spent. People are not choosing to go out there and boost sales so the media can report on it. The media is reporting on it because people are doing it. It is sad that there aren’t more stories about the other aspects of the joy and togetherness that the holidays bring about, but that’s just the way it is.

I am a big saver to, as are most of the people who frequent this forum. I believe in “live and let live.” I know and concentrate only on what I’m doing with my finances. If someone else wants to save a dollar, then that’s great. If someone else wants to spend a dollar, then that’s great too. To me, its all about what I choose to do with my dollar. The sad reality is that consumer debt is a huge driving force in our economy. The fees that are tacked on to defaulted loans, credit cards, etc. mean big dollars for lenders. Someone else on here mentioned collusion and, frankly, I believe he or she hit it on the head. Why would the government encourage people to save? How do they truly gain from that? The simple answer is that they don’t. That is, my friend, the bottom line.

Kudos to you and your saving. I hope you continue to do so. I suggest that if all the talk of spending is bothering you, then you should just tune out because its not going anywhere for a while. Heck, you should be used to it since I’m assuming you’ve lived through upwards of at least 10 holiday seasons since you started realizing the consumerism that has become associated, and even synonymous, with all of our most precious holidays, especially Christmas.