On many financial blogs there is a lament that one reason so many people have such a large debt load is that they are trying to “keep up with the Joneses” those mythical neighbors who always have newer and nicer things than us. I think this mentality really cuts to a fundamental issue about us as Americans. We visit a friend of ours and they show us their brand new 42” plasma flat screen TV. It is quite nice and boy it would be nice to have one in our living room. When you get home, your TV suddenly looks puny. You grow disasstified with it and find yourself looking at the TV ads in the Sunday paper and soon you are comparing brands and features. Shortly thereafter, you are unpacking your brand new TV and showing it to your friend. Read more »

Posted: July 11th, 2008 under Financial.
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