Young Women Spending Beyond Their Means
25 August 2006In keeping with the earlier post on a survey showing many women feeling both financially insecure and financially uneducated, here’s a story on young British women who have been caught up in financial problems trying to imitate wealthy girlfriends of sports stars who are glorified on British television. My sense is that this is a big part of the problem, and not just for women. Younger people, men and women, tend to spend well beyond what they can afford on their lifestyle. It catches up to them as they age – leading to the bag lady syndrome when they get older referred to in that survey.
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