Americans work more hours compared to other people in the world. They even work for extended hours over weekends.
You would think they have many assets to show for their efforts but sadly this couldn’t be further from the truth. On the contrary, many Americans are drowning in debt and struggling to make ends meet. Most Americans have admitted to wasting thousands of dollars on worthless trends.
Some go as far as applying for same day loans online to “keep up with the Joneses”. While student loans and expensive housing take up much of their income, a brief survey revealed that many Americans are following crazy trends resulting in debt.
Seeing that they’re always borrowing money from financial institutions, it’s been noted that a bulk of their income goes to paying high interest rates of amounts borrowed. Some of it goes to bank fees linked to overdrawn accounts.
With regards to commodities, it has been revealed that parents waste money on expensive baby items including pricy diapers. Buying expensive diapers isn’t ideal considering that they’re disposable.
Betting on lottery tickets has taken over the average American’s livelihood. In a bid to bag the winnings, they find themselves standing in lottery ticket queues every week.
Americans are also known to spend generously on lavish weddings which often leaves them in debt.
Isn’t it time for a change?