These days, the standard for most Americans is to work harder and harder at work everyday. Between bosses pushing us to the absolute limit and increased expectations from clients and customers, it seems like there is no room for failure. Everyone is being asked to do more work in the guise of a bad economy. All of our manufacturing jobs have been shipped overseas and the ones that remain in this country are demanding to say the least.
A recent article on CNN illustrates that men at the age of 25 are earning 10 cents less per dollar today than their counterparts in 1980. Because of a lack of jobs, people are more grateful to keep the ones they have and will do some menial tasks in order to please their employers. But is the economy the only reason we are struggling to make ends meet? If you take a step back and analyze some of your purchasing habits you can probably invest, shop, and save smarter. All you need to do is take a time out to analyze the situation.
Housing
If you take into account the homes our parents lived in compared to the lavish suburbs and McMansions we live in today, you will start to realize why we are in a mortgage crisis. In the 1990s, people started to develop and purchase with credit without even thinking. By paying for a smaller, more affordable home closer to the city, but still in the suburbs, you can save money without worrying about overworking yourself.
Education
Another reason we are not making enough money is because of a lack of financial literacy. If you were to ask a 25 year old about the best Roth IRA or highest interest rates on a credit card, you would probably receive an expressionless and blank stare. Students are opting to take courses like “Brewing 101” and “Madonna’s Cultural Impact” in college instead of serious business classes that will improve their lives. This racks up student loans and gives very little except some trivial knowledge and student loans in return.
While all of the manufacturing jobs are now overseas, people can still get a decent education at a community or local college to learn the basics of business and be better prepared for their financial futures.
Technology
About 10 years ago, the latest technological landmark was the iPod. This portable MP3 player started a revolution and consumers are paying a hefty price to stay current with gadgets and gizmos. Every year people line up to get the new iPhone or next tablet innovation when the one they currently hold onto works just fine. Research the product specs and upgrades before dropping top dollar on consumer electronics.
Food
If you are working harder, there will be an increased pressure on you to eat while under stress. More Americans are eating at their desks instead of utilizing a company breakroom to actually take a pause from their work. Sending someone out to get fast food or take out may seem like the quickest, most affordable option, but it adds up. If you visit the grocery store, purchase dried goods and frozen meats, you can cook in advance and freeze your food. This way you can bring your own healthy lunch while saving money.
Just because you hear that Americans are working for less, doesn’t mean you should have to suffer. Living a bit more frugally is just a euphemism for living more realistically. Make sure you do not spend beyond your means and never opt for the easy way out.
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