If Uncle Sam was on Oprah, it’s a lock two of his “favorite things” would be debt and booze.
That obviously sounds pretty bad, but it’s unfortunately true. Not only have we incurred at least $35 billion in new credit card debt each of the past two years, but outstanding student loan balances now exceed $1 trillion and mortgage holders continue to default in droves. What’s more, roughly 66% of U.S. adults consume alcohol, and around 1% of the average person’s annual expenditures are on alcoholic beverages.
My point? Well, I’m not going to tell you to stop drinking if that’s what you think. Not only would it be hypocritical to do so, but it’s naïve to think people won’t inevitably buy alcohol. Instead, I merely want to help you save as much as possible in this major spending category.
Read the entire article at http://wallethub.com/blog/wine-on-a-budget/658/
Read more about Richard Serlin at http://cals.arizona.edu/fcs/faculty/richard_serlin
