Comments on: American Culture Is Why People Don’t Save Money

By: Broken Arrow

Broken Arrow — Sat, 28 Nov 2009 18:43:25 +0000

Ok, I finally saw the video.

I do think that the American culture lends itself to be more individualistic. Although you may not have said so, Jeffrey, I’ll bet you know that better than anyone having lived in Japan.

But that individualism does not come without a price, which as the professor points out, it also grants us Americans the freedom to fail to spectacular fashion.

From my personal observations, it seems that most things in life is both a vice and a virtue. Sun Tzu, and I know it may sound kind of corny to be referencing him here, already figured out long ago in the Art of War that one must be able to leverage our strengths and compensate for our weakenesses. But when he said that, he wasn’t talking about two separate things. I believe he was talking about the same thing….

Not just Americans, but everyone needs to know when certain attributes in us is going to be useful, and when it is not. You use it when it is, and you don’t when it it isn’t.

Something like that. Sorry, my brain is on vacation.

By: elkbelk

elkbelk — Thu, 26 Nov 2009 21:50:53 +0000

It’s because of conditioning that Americans lack a savings culture. And now there are paying the price for that.

By: John DeFlumeri jr

John DeFlumeri jr — Wed, 25 Nov 2009 17:45:33 +0000

Almost anyone can learn to be a saver. It is a thing to teach our children. It always pays off!

John DeFlumeri Jr

By: pfadvice

pfadvice — Wed, 25 Nov 2009 16:48:43 +0000

@ Broken Arrow – fixed. Thanks

By: WhiteEyebrows

WhiteEyebrows — Wed, 25 Nov 2009 16:10:09 +0000

Heard on NPR the other day that the Indian MIDDLE class has a savings rate of 30%. They are going to be a WEALTHY people in a generation or two…

By: Jackie

Jackie — Wed, 25 Nov 2009 16:01:09 +0000

I think one of the big changes is that you hear people saying that they wished it was a requirement for schools to teach a personal financial class. Maybe parents won’t be directly their kids’ lives any more or less, but want to see this information become part of their educational curriculum. And I’d be all for it. You’d still see people making mistakes, going into debt for frivolous stuff, but they’d then already have the tools to help themselves or know where to start looking for help.

By: gertymac

gertymac — Wed, 25 Nov 2009 15:37:11 +0000

“Don

By: Financial Samurai

Financial Samurai — Wed, 25 Nov 2009 14:55:47 +0000

We have some of the wealthiest individuals, and most innovative companies in the world, so I beg to differ.

Americans like to go for broke, and that’s a good thing.

Don’t listen to statistics! Americans save more than you think.

Best,

Sam-urai

By: Broken Arrow

Broken Arrow — Wed, 25 Nov 2009 14:38:05 +0000

I can’t see the video because it’s blocked at work right now. I’ll watch it later.

Just wanted to point out that you might want to edit out the word “suck”.

By: Craig Ford

Craig Ford — Wed, 25 Nov 2009 12:42:12 +0000

So many people are habitual spenders. This is culturally influenced. We spend because those around us spend and sometimes it is hard to get away from consumerism.