We have taught people to enjoy spending instead of saving.

[GoodSteward]

I've been using CheckFree (since there are multiple companies with a similar name, note that this one is owned by Fiserv) for 15 years. They've been around for 35 years (my uncle dialed into their computer using a 300 baud modem connected to an Osborne 1 back in 1982), and I've never had a hiccup that was CheckFree's fault.

Since they print & mail checks to "companies" that can't receive EDI, we've also used it to send payments to people like my grandmother and the treasurer of the Kiwanis Club my wife belongs to.

I was referring to living paycheck to paycheck I can go a couple weeks without a check, but not a full month yet. I use the bill pay card as a buffer for that right now. I don't carry that card around.

As for the sending checks part, my bank actually offers a free bill pay option where they send the checks. I use that to pay my water bill since I use community water, and it is privately owned.

Thanks for the adivce though!

[frugal saver]

When the recession started, I remember hearing a lot of comments about people being "greedy"--i.e. saving their money instead of spending it. Comments were made that we'd never come out of the recession until people started spending. Tones changed--saving became "sitting on their money" and spending became "supporting the economy."

On one side, we have a whole group of young people who heard this during their teenage years and are moving right from "don't save" to college loans and that doesn't bode well.

On the other hand, a lot of adults who were lackadaisical savers to begin with became total spenders. I have a couple of friends moving into their 60's and are still spending every paycheck.

Until interest/CD rates improve, I don't see the non-savers changing their ways.

[Nutria]

I was referring to living paycheck to paycheck

I can go a couple weeks without a check, but not a full month yet. I use the bill pay card as a buffer for that right now. I don't carry that card around.

We don't live paycheck to paycheck but still treat the checking account like we do: start the month with $600, and charge everything (food, utilities, etc) that can be charged without an added "convenience fee". Once the paychecks arrive, we pay off the cards every Sunday night.

[Nutria]

When the recession started, I remember hearing a lot of comments about people being "greedy"--i.e. saving their money instead of spending it. Comments were made that we'd never come out of the recession until people started spending. Tones changed--saving became "sitting on their money" and spending became "supporting the economy."

An economy driven by consumer spending where everyone suddenly becomes thrifty and urgent to pay off their debt would quickly collapse.

[GoodSteward]

An economy driven by consumer spending where everyone suddenly becomes thrifty and urgent to pay off their debt would quickly collapse.

This is something I have reluctantly accepted. This is the same reason why not everybody can follow the advice "always buy a used car." If somebody didn't buy a new car, there would be no more used cars. As much as I want everybody to follow all the advice about saving and paying off debts, we now rely on people to not follow it due to how everything has shifted. Same for stocks. We need people to spend up a storm to give great profits and make the interest increase on stocks. It's a sad truth. We want people to be wise, but when people are unwise we (people who invest) benefit.

Perhaps I am not correct, and I'm sure someone will correct me. lol However, from how I understand it if spending slowed down a lot to reflect people saving more, in our economy, profits would plummet, and investment benefits would go with it.

[AJ444]

I don't think there is enough Personal Finance taught in school. We had one quarter of one year of a mandatory consumer education class where we learned to balance a checkbook, what retirement plans were, how to bargain shop etc. We rushed through a gigantic book, the class should have been for an entire year.

I think Ramsey has good get out of debt advice for the masses but he loses me once he gets to investment strategy.