NYT: How Should You Manage Your Money? And Keep It Short

[jengod]

http://www.nytimes.com/2016/01/09/your-money/how-should-you-manage-your-money-and-keep-it-short.html

Why do we fail? When it comes to the lack of emergency funds, there are millions of Americans with no bank accounts at all, whether because of poor credit or poor access. Many millions more cannot afford to save anything.

As for everyone else, there are at least two big problems. The first is one of will. Mr. Clements, a longtime Wall Street Journal columnist who also did a stint in financial education at Citigroup, pointed to the always increasing availability of shiny consumer goods coupled with stagnant incomes for so many. “But they don’t say no,” he said. “They go ahead and buy, which leaves less for long-term goals, unlike the smaller number of millionaires next door who live frugally and amass lots of money.”

Comments are interesting as well. Half interesting financial advice, half complainypants. One guy's advice included "always take first available parking space" and I think he changed my life overnight.

[nobodyspecial]

As for everyone else, there are at least two big problems. ... pointed to the always increasing availability of shiny consumer goods coupled with stagnant incomes for so many. “But they don’t say no,” he said. “They go ahead and buy,

On behalf of the supply side of the economy - can I say thank you to all the people who are prepared to be screwed all their lives to buy the shiny toys that pay my wages.

[calimom]

I read this article as well, and maybe about 50 or more of the comments, which were interesting to say the least.  My takeaway is that a lot of people could examine their own earning/spending/savings patterns and maybe, just maybe adjust some habits and trends in their own lives.  Personally, I like I do pretty OK compared to many fellow Americans, but I'm always learning, and always hoping to do better in my own earning/spending/savings patterns.