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Aug 29, 2020
An easy way to look at consumerism is that marketers and advertisers have perfected tactics to get us to buy things, even if we don't need them. But American consumerism is also built on societal factors. We try to keep up with the Joneses, whoever they may be.
Sociologist Juliet Schor, an author of books on consumerism, wealth, and spending, thinks marketers have less to do with what we want than our neighbours, coworkers, or people we follow on social media.
Shopping therapy is a well-known stress buster, and can also be utilized in small doses to ward off immediate anxiety and experience a small dose of serenity.
This includes ordering a new set of headphones just like that or shopping a few dollars extra at the supermarket buying stuff you didn’t know you needed. Behind this innocent purchasing drive lies a bigger monster of mindless consumerism.
Properly managing your finances abroad will have a direct and positive impact on your experience.
The majority of your funds will most likely go on rent. Nowadays, it isn’t uncommon for people to spend around 40% of their monthly income on rent and that’s why, when looking for a home, you need to have clear figures in mind.
NFTs seem to have entered the mainstream. But the technology remains confusing and inaccessible to normal Americans.
Millions of dollars are poured into this emerging market for digital goods, which has rapidly increased the careers of some independent NFT creators.
Warren Buffett advises against excessive borrowing, such as credit card debt or unnecessary loans.
Some experts divide borrowing money into "good debt" and "bad debt."
Contagion, in financial terms, refers to the diffusion of economic booms, and can occur both domestically and globally. It is basically a spread of an economic crisis from one region to another, and spreads on an international level due to the global market interdependence.
The term contagion was coined during the 1997 Asian financial crisis, but it was occurring namelessly even during the Great Depression in the 1930s.
In 1926, brothers Maurice and Dick MacDonald hoped to find fame in the industry of moving pictures. At first, they hauled sets and worked the lights during back-breaking shifts on silent film sets. But they were unable to move up in the behind-the-scene ranks of the business.
In 1930, after scrimping and saving, they purchased a theatre. To dissuade patrons from taking their own food to the movies, they installed a snack bar in the lobby.
Your net worth gives an overview of your financial situation at this point. It is the difference between what you own and what you owe.
Your net worth is positive if your assets exceed your liabilities.
A negative net worth is when your liabilities are greater than your assets.
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