People's spending habits
honestly, it is a surprising figure and interesting statistic to know that more than half of the US population do not save much but spend it (un)wisely /extravagantly. perhaps, they do not have any means of saving a portion of their income as their essential bills are too many. but let's say that a portion of people here can save but aren't saving and just carelessly spending their income. well, I guess what will bug them in the future is their extra cash for any needed expenses that may crop up as they explore deeper life milestones like a home, kids' routine care, family essentials etc. well, I feel that yes, we do need to set aside cash for the rainy day even if it ain't gonna be put into investments. just leaving it in the bank beats being 0 in savings in the bank. lastly, I think it's good to set aside a budget for investing too. a small budget can be set aside each day and accumulated for a good stock. such as an etf. if market ETFs have a 90% chance of yielding returns, I'd put my chances there instead of buying lottery:)
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sorry. high scam rate here. gonna be reporting unk accts.
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whqqq : thanks for your opinion
doctorpot1 : It is their culture there, that's why US economy is growing very fast. Spending drives the economy and Savings slows it down. Asian seems to have a culture of savings but the US is more of a culture of spending.
It is funny that most of them have a garage but they park their cars outside because the garage (which is suppose to store the car) is filled with stuff. Tons of stuff. they have so much stuff that quite a number of them rents locker spaces to store more stuff.
JustSurface doctorpot1: I love reading outsiders opinions on the US because they mirror my own. lol Americans can be pretty unwise but not all.
doctorpot1 JustSurface: I won't say it is wise or unwise as there are pros and cons to every approach
for example the culture of spending is really good for the economy and that makes monetary policy more effective. That's why during the covid crash, the fed just give out free money and everyone spend it and it helped the economy. but the cons is that the citizen who live paycheck-to-paycheck are walking on really thin ice.
Whereas in Asia where there is a culture of savings, it is tough to ramp up spending to boost the economy. if the government were to give out free money, most of them will just be go to savings and the economy will suffer. But the good thing is that the citizen can weather rainy days.
toomanyscammersOP JustSurface: lol bro, do u hail fr the US by any chance? no offence on my original post as it was half written in a state of tiredness and headache. lol.
I think spending habits unfortunately are one of those things that are bound more by the individual's thinking than by culture unfortunately. The 'want' behind owning or purchasing an item I think is a universal desire and humans behave the same way psychologically anywhere, regardless of nationality. a person in Japan might like an iPhone as much as a person in Italy likes it. hence, I believe non-Americans still downs as much too and have similar saving or spending habits too...
so maybe it was more accurate to say that I'm surprised to know more than half of the sample size spend all their income. this sample size, measured against the US side might be a representation of the other cultures too. plus minus abit. so I believe it's about the person. hmmmm. honestly, nothing wrong with that too, this is our personal lifestyle habits. maybe they have reasons for it? but wanna ask, is investing a good method to teach them to spend less then. since most probably there might be some impulsive buys for some who utilise all their paycheck. are they inclined to buy a stock rashly then. so should we intro them apps like moomoo then where it is so easy to do a trade lolol
toomanyscammersOP doctorpot1: hello! thx for taking the time to read and reply my post too:) haha saw there is a moomoo contest on song lyrics now. u can hand in ur song on the ang ang ang now ;)
JustSurface doctorpot1: that free money is now having it inflation consequences that will last a while. plus that free money went in large part to corporations who didn't need it.
doctorpot1 toomanyscammersOP: hahahaha that one sure is 老uncle win one hehehe
He sing and play guitar so nice 
doctorpot1 JustSurface: Hopefully the free money that goes to corporation did causes them to not cut jobs, which is beneficial for the citizens
JustSurface doctorpot1: sadly not so much, there's numerous lawsuits against corporations taking PPP money and not keeping staff
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