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Victims of this disease cannot blame the media entirely for their illness. While media messages are often prevalent, passionate, and ersuasive, they are not accompanied by a taskmaster with a whip. e have the choice whether to listen to these messages or not, but nfortunately, many Americans do not comprehend this because very ew have ever had to go to bed hungry or be out of work for two or hree years at a time. Instead many feel driven to consume by a askmaster of their own creation that is born of guilt, greed, pride, aterialism, and expectation.

This greed and materialism stem from a lack of respect toward money, a respect that’s been lost as a whole from our society since he ending of the Great Depression 60 years ago. The generation who uffered through the Depression carried a real fear of not having he basic necessities of life because most people of that era nt many years without being able to provide adequately for hemselves or their families. The Depression taught people a profound espect for money and its power over life. It also taught them the value of self-reliance, the importance of self-denial, and he danger of overindulgence. Unfortunately, as America came out of hat great economic trial into the most prosperous time in all of istory, it did not teach subsequent generations to fear and respect oney as it ought. Instead, it taught its children to hold their hands ut in expectation. Because of that, we now live in a time of great elf-indulgence and very little financial self-control.

Today’s generation, instead of fearing that it will not have anything, fears that it will not have everything.

Many people today spend oney out of fear that they won’t be able to keep up with everyone lse if they don’t. They spend money to reduce their
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Money Mastery
fears and as a way to feel powerful and capable of meeting any and all desires. This kind of spending is usually impulsive and acts as an motional release, helping such individuals feel better about hemselves and their personal circumstances. Did you know that 25 o 50 percent of all consumer purchases are unplanned and nneeded? And here’s another terrifying statistic: The average merican will retire with just $57,000 at age 65—that’s after making ore than $1.6 million over their lifetime!1 As a nation, we’ve been aving less than 3 percent.2 In fact, in recent years, the personal aving rate has hovered around a negative .02 percent!3 In other ords, Americans are spending more than they’re making, something he nation hasn’t struggled with since the stock market crashed in 929. That’s why more than two-thirds of all Americans who have eached retirement age today are not sufficiently prepared to retire,4 and why many older Americans are going back to work after age 65.

aken from : Money Mastery “10 Principles That Will Change
Your Financial Life Forever