So what else has happened over the past fifty years to have changed the expectations of millions? Credit cards are certainly a major part of the reasons behind a rise in a more flexible anticipation of owning more material goods than would have been possible fifty years ago when credit cards were simply an idea. This fundamental difference with the past has however caused a radical change to occur with one of the most popular mechanisms put in place by people for people having almost lost its credibility. Saving money is no longer an essential priority of the family today, because this has been replaced by the ownership of goods being a higher priority. There is nothing basically wrong with this notion other than that it attracts a considerable waste of money because none of us can help ourselves from spending on unnecessary luxuries.
For the family financial responsibility insurance has become a nice idea but an impractical one. The thought of saving money even a small amount each month is today less attractive simply because by doing so we might deprive ourselves of possessing something that we really do not need. Yet saving money has never been more essential or easy to achieve than it is currently. The idea behind financial responsibility insurance is to provide a family with funds that they may need in the event of a crisis or some big event, such as a wedding. Saving money, even a small amount each month will go towards help paying for something that is essential.
The problem for all of us is that we never think anything seriously bad can happen to us, which unfortunately is untrue. We are all vulnerable, and our anticipation of enjoying material things is included in that vulnerability. Over the past fifty years our financial vulnerability has become a little clouded as consumer spending has gradually risen to what it is today, while saving money for a rainy day has lost its appeal because it does not present us with what we want now! Yet saving money was never meant to present us with anything until something happened, which it will because life does that.
Additionally saving money in a family is difficult, but achievable because the family does not need to save a large amount each month for it to grow into something that is usefully sizeable as a financial prop when it is needed. Stop spending and begin saving money might seem like a backwards step, but it remains a sensible precaution however much money you actually possess.