
S E30: Consumption and Saving - Spend Now or Save to Spend Later
Think Like An Economist
00:00
Is That the Whole Picture?
One of the main reasons some one may be a hand to mouth consumer is they can't get access to credit. A bank is more likely to lend you money if you already earn good money, or you have a house or something that they can take away if you don't repay your loans. Without unemployment checks, people's consumption falls a lot. Most americans actually saved a lot of this money. Our figures show the typical persons spent around 350 dollars and put the rest away to spend in the future.
Transcript
Play full episode