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Why We Spend: The Psychology of Spending Money

psychology of spending

It’s likely no surprise that money is a leading cause of stress among most Americans. Financial decisions—whether making purchases, paying down debt or building up savings—require willpower, good judgment and discipline. Why is it, however, that even when people aren’t in the midst of a financial crisis or vicious cycle of debt, making ends meet […]

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A Summer Spending Freeze: One Person’s Plan to Tackle the Challenge

Woman shopping

  Recently Marlena H. embarked on a self-imposed, one-month “personal spending freeze,” announcing her intentions on social media and inviting others to join. Intrigued by what inspired her to take on such a challenge, SafetyNet™ reached out to learn more about the impact of her financially minimal month on her day-to-day life (and, subsequently, her […]

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Where Does All That Money Go? Infographic of Consumer Spending

Consumer spending infographic

Data from the Consumer Expenditure Surveys (CE) measure how consumers allocate their spending among the various areas of their lives. Not surprisingly, housing is the number one expenditure, followed by transportation. Here is where consumers are spending money. Average expenditures and income of all consumer units*: Income before taxes          $73,207 Average […]