Saving money has caused huge concerns for many people.  Whether it is saving for retirement or student debt, these issues can worsen for people as they get older. Saving money can cause problems because many people are unaware of how much money they are actually spending and borrowing. The lack of knowledge, including the value of money can also contribute to factors such as spending more instead of saving. 

There are many reasons why Americans are not good at saving. One reason why Americans are not good at saving is because of the accessibility of credit cards.  People are spending more of their money away, which includes the increase of money that incurs when interest accumulates. From Investopedia.com, it states, “Irresponsible credit card usage can mean a lack of self control and a budget, ultimately leading to increased spending habits. In addition, saving money is a problem for Americans because many Americans are shopping online nowadays. Shopping online is a problem because you can’t actually see the quality of the product, until it is shipped to you”.   Such issues can cause concerns.  Furthermore, many companies try to sell with false advertisement because the products purchased online will not look like how they were marketed to look. For example, Thebalance.com states,”Online shoppers do not have the ability to physically inspect or try on the items being considered for purchase.” It also states, “Online shoppers sometimes lose the power to negotiate the price and payment terms that may exist in local stores.”  This loss of power can be very costly.

There are many ways on how Americans can save money and limit spending. First, one should worry about paying off student debt. The average student loan debt in college students is $37,000. This is a huge priority for college students to worry about as they get older. In addition, Americans should limit the consumption of fast food, and start making meals that the whole family can enjoy at home. Fast food has led to obesity, heart disease, and stroke. The average American spends about $1,200 on fast food per year.  Lastly, Americans should stop spending money on things they don’t need. It is easy for Americans to throw away products, which causes waste. Americans waste $18,000 on non essential expenses per year. Instead of throwing away products that we want instead of need, we should consider helping others that are less fortunate than us.