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Wallets And Sparse Portfolios

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It is apparent that the American population--in its current state--exhibits a clear lack of understanding of the way money should be spent. According to an article titled “Empty Wallets and Sparse Portfolios: Causes and Consequences of Poor Financial Decisions” printed within the peer-reviewed journal Advances in Consumer Research, The average amount of debt held by an American is over thirty thousand and are more likely to borrow money and pay more long-term if it means they will obtain an item they desire immediately (192). Credit is an important concept to consider when considering the financial health of Americans. While the idea to save money until we are able to afford objects which we desire is the economically wise move many people--including

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