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In an essay of 1 1/2 to 2 pages single spaced, please describe the changes that have occurred in the last generation with regard to personal and family finances. Include the main governmental, economic, and social causes of these changes and the key things Professor Warren recommends in the reading assigned from her books to date to avoid today's serious new dangers and still be financially secure while building wealth
Changes In Personal And Family Finances Over The Generation
Length: 2 pages (1100 Words)
Changes in Personal and Family Finances over the Generation
Statistics reveal that several Americans and persons in the developing world of the current generation are immersing themselves into more debt as they indulge in impulsive buying and lustily purchasing they would rather forgo. The ‘luxury fever’ that has caught many Americans especially spurred by the upper class has caused the middle class to reduce their savings and increase their arrears. This is evident as increasing number of the middle class are being rendered bankrupt. The culture of competitive spending among Americans has eroded the value of public goods such as social services, recreation, and culture.