Now first, I must admit that most Americans really don't have any trouble doing this. We are, after all, the country that turned Lost Wages into a city.
That said, we do a great job of throwing away money in a lot of other areas; by buying far more than we can reasonably use, by buying cheap junk that we need to replace often, and by being stingy.
Yes, by being stingy. Look at Proverbs 11:25 "The generous soul will be made rich, and he who waters will also be watered himself." Look at Proverbs 22:9; "He who has a generous eye will be blessed, for he gives of his bread to the poor."
Gary North commented on this principle with a pithy comment; to the effect that the generous man interacts with people who will say "let's do this again." Not so the miser. At the risk of offending fans of Dickens, I think that that great writer got it wrong; wealth isn't accumulated by always trying to squeeze the last penny out of a deal. It's accumulated by making deals that benefit both parties.
Lots of applications here, but one that particularly comes to mind is the modern idea that a good businessman is one who squeezes the most out of every deal, paying the bare minimum; someone like Scrooge or Donald Trump. What's lost is that the squeezed have other ways of exacting a price from the squeezer.
Which might have something to do, for what it's worth, with Trump's two filings for bankruptcy.
Even our NFL "heroes" need to budget, conserve, invest wisely and diversify - The Sad Financial Future That Awaits Many NFL Players Excerpt: For our research published last year in the American Economic Review, we collected data...
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