Kaiser Family Foundation’s 2016 Employer Health Benefits Survey noted that the average health premiums for family coverage have jumped 20 percent since 2011 and a shocking 58 percent since 2006. Student loan debt is another growing issue that continues to saddle more and more young borrowers, and health costs have skyrocketed too. But that’s just one part of the equation. The widening gap between income and expenses looms as a major factor driving American household debt toward unsustainable levels. As of 2014, median income plummeted by 13 percent from 2004 levels while expenditures increased by nearly 14 percent. Indeed, the cost of living has been rising - but wages haven’t kept up. “The rising cost of living, education and medical care have really hit the average American household hard,” said Stephanie Stewart, credit repair researcher at. How did we get into this mess to begin with? According to Credit Karma: Though mortgages and student loans are considered by some to be "good debt" (and I don't totally agree), even that amounts to over $10 trillion in debt - debt that is repaid with interest. To me, this is hard to think about and put into perspective. Type of debtTotal amountMortgage$8.69 trillionAuto loan$1.19 trillionStudent loan$1.34 trillionCredit card$784 billionTotal household debt$12.84 trillion Let's face it, the statistics paint a not-so-encouraging picture of the financial landscape in the first world, especially here in the United States.Īccording to, here's what debt is doing to the American population as of June 2017: But, here's the thing: if we aspire to be happy and successful people, why do so many of us try to keep up with the Joneses when many of the Joneses are broke? We want to be happy.whatever that happens to mean for you. However, understanding the pitfalls of the Jones Effect is crucial if your goal is to save money and gain financial independence. In many ways, we can attribute most of our purchasing behavior to the Jones Effect – being inspired by the people around us or the media is inevitable. If the Jones Effect takes effect, so to speak, you will be inspired to purchase the same, if not better, versions of the shoes in order to appear on-trend, successful, and wealthy in the eyes of others. Say you see your friend wearing a pair of really cool, new Nike shoes that cost over $300. In my opinion, the Jones Effect is a byproduct of a mild form jealousy and instinctual competition. Let’s take a deeper dive into the Jones Effect so you can better assess whether or not it has taken ahold of you or someone you care about. This mentality, in combination with social media, has created an unrelenting vicious cycle of needles spending and debt buildup for many around the world. This in turn further propels the Joneses Mentality and subsequent unnecessary material consumption. More recently, in the era of social media, the Joneses Mentality has grown dramatically with the increased exposure to other peoples’ spending habits and our corresponding increased desire to “keep up.” The idea of not having enough has been among the primary payoffs of most peoples’ social media consumption. It is the constant interpersonal evaluation of haves and have nots and comparing our material accumulation and visible signs of wealth with our immediate relatives, friends, peers, and neighbors. Keeping up with the Joneses is a kind of mentality by which we try to keep up with our vision for success, and it usually revolves around keeping up with our neighbors. Successful badasses with lots of money, influence, and purpose. Thad's rich flugelhorn is as strong as on any date he ever recorded, while Hank's playing is a little more reserved than usual, and Elvin, known for his fierce attack, sticks mainly to brushes".With few exceptions, most of us aspire to be great people. The Allmusic review by Ken Dryden states: "In spite of their very long careers in jazz, brothers Hank, Thad and Elvin Jones made relatively few recordings together this Leonard Feather-produced date got the three of them into the studio and added to the gimmick by including Eddie Jones (no relation) on bass, and performing exclusively works by Thad or Isham Jones (also no relation). Reception Professional ratings Review scores
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |