24/7 Wall St. reviewed how Americans spend money. One of the conclusions of this analysis is that consumer spending is relatively alive and well, despite the recession. This may mean that Americans continue to be over-leveraged. US citizens have, in general, brought down their indebtedness. However, holiday spending rose substantially from last year, and the extent to which Americans feel poor has declined now that the recession has ended. Americans spend about 15% of their household incomes on things that they do not need to satisfy their vices or to keep themselves amused.
The authors suggest we “waste” money on eating out; gift-giving; television and sound equipment; pets, toys, and hobbies; lodging, vacation homes, and hotels; fees and admission; alcohol; recreational equipment; tobacco; and apparel. Jesus says: “Therefore do not worry, saying, ‘What will we eat?’ or ‘What will we drink?’ or ‘What will we wear?’” (Matthew 6:31).