"Why Americans Spend So Much, Save So Little"

Interesting article talking about the tipping point as being the 1980s. I remember being encouraged to save in school. We had little savings envelopes from whatever bank we had chosen, pink for Citizens Bank, and blue for the Old Stone Bank (ours). My mom and dad took out a selected amount for "house money" after being paid and the rest went into the bank. I remember Mom keeping track of everything they spent on a "ten cent pad" from Woolworths (about 4x6, white, unruled) which sat in the "money drawer" of their dresser. My parents didn't have a checking account until I got one in the early 1980s...I didn't even know how to write a check when I got my checking account—I looked up how to do it in the World Book! They saved up for everything before they spent their money, including vacations, and Dad's last car, the white Pontiac Phoenix I named "Canrith." It was seven thousand something with tax, and Dad paid for it in cash.

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. . . . . noted and logged by Linda at 1:36:00 PM

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