With the holiday season just over, it is an appropriate time to examine the effects of its more commercial aspects. Shopping, overwork, stress, and high household debt have been identified as symptoms of a “communicable disease” that is sweeping the country and threatening health, marriages, and families. The name given to this disease is “affluenza,” which is described in detail in the 2005 book Affluenza: The All-Consuming Epidemic.
An extension of the widely acclaimed 1997 PBS television documentary, Affluenza, and its 1998 sequel, Escape From Affluenza, the book cleverly employs the terminology of illnesses (e.g., congestion, convulsions, aches, scars, exhaustion, etc.) in its chapter titles to describe a powerful “virus,” termed “affluenza,” which is defined as “a painful, contagious, socially transmitted condition of overload, debt, anxiety, and waste resulting from the dogged pursuit of more.”
In the book’s introduction, the co-authors describe Americans’ “addiction to stuff” and the toll it is taking on personal health, families, communities, and the planet. Key statistics about imbalance in people’s lives are provided such as the fact that, since the late 1990s, more Americans have declared personal bankruptcy than graduated from college and that Americans work more hours than do citizens of any other industrialized nation. Despite more possessions and spending power than past generations, however, many people feel stressed, unhappy and overwhelmed. They are working harder and harder and enjoying life less.
How is marriage and family life impacted by “affluenza?” Fueled by advertising and easily available credit, priorities can become skewed. For instance, more people visit the mall each week than attend church. The average shopping time each week is six hours, yet the average time spent playing with children is only forty minutes. Add to this picture more than one million people declaring bankruptcy each year and you have several major symptoms of “affluenza.”
Is there a cure for “affluenza?” Yes, indeed. To cure themselves of this affliction, people can take aggressive steps such as:
? Placing yourself on a “shopping quarantine.” In other words, stay away from malls and Internet e-merchants.
? Reading a good book or engaging in exercise instead of shopping.
? Planning an activity together with your family or friends that doesn’t cost any money.
? Being more critical of commercials and advertising.
? Reprogramming your thinking. Picture the Jones as the thriftiest people you know rather than those who own the most and then try to keep up with them.
? Practicing “voluntary simplicity” by reducing current consumption. A good source of information about voluntary simplicity and downsizing debt is the book “Your Money or Your Life” by Dominguez and Robin.
If holiday debt repayment has you worried, visit www.powerpay.org for a PowerPay analysis. The principle behind PowerPay is that, as one debt is repaid, the monthly payment from that previous debt is applied to remaining creditor until all debts are repaid. Depending on the number of creditors owed and the outstanding balances, the amount of money saved by following the PowerPay program can range from several hundred dollars to well over $10,000. With the PowerPay program, the total amount spent monthly on non-mortgage debt repayment remains the same. Calculations can also be done of scenarios with optional additional monthly payments (e.g., $25). Users can print out a calendar indicating the amount that should be paid to each creditor until all debts are eliminated. Up to 30 separate debts can be analyzed by PowerPay, which was developed by Utah State University Cooperative Extension.
One of the benefits of reduced spending and reduced debt is more money to invest for future financial goals. Review Unit 8 of Investing For Your Future at www.investing.rutgers.edu for information about investments that can be purchased with small dollar amounts.
